Washington D.C. (GNB): Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today.
The official unemployment rate was unchanged at 6.7%. The Economists yet to estimate actual unemployment rate since the official jobless rate doesn’t include about 4 million people who left the labor force last year. With consideration, the unemployment rate might be higher than 6.7%.
Jobs lost during March & April was 9.8 million that have not returned yet.
“The decline in payroll employment reflects the recent increase in coronavirus (COVID-19) cases and efforts to contain the pandemic. In December, job losses in leisure and hospitality and in private education were partially offset by gains in professional and business services, retail trade, and construction”, the U.S. Bureau of Labor Statistics reported.
President Donald Trump is set to leave the office with the worst job losses of any president in decades.
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