Evidence was abundant in the November jobs report that the U.S. economy’s tentative recovery is sputtering as coronavirus cases accelerate and federal aid runs out. Hiring slowed sharply. Hundreds of thousands of people gave up looking for work. The proportion of the unemployed who have been jobless for at least six months rose. All told, the Labor Department said Friday, employers added 245,000 jobs in November — the fewest since April, the fifth straight monthly slowdown and well short of the gain economists had been expecting. Back in March and April when the virus slammed the economy, the United States lost a staggering 22 million jobs. It’s been clawing them back ever since — but at an ever-diminishing rate: 4.8 million added jobs in June, 1.8 million in July, 1.5 million in August, 711,000 in September, 610,000 in October and 245,000 in November. Total it all […]

Posted in: USA