1.8.21 US Jobs Growth Turns Negative
The differences in strength between the stock market and real economy were laid bare this week as the stock market surged to new highs while the jobs market continued to deteriorate and remains well short of its February peak.
The US Bureau of Labor Statistics released its monthly employment report on January 8, revealing that the domestic economy lost 140,000 jobs in December, falling well short of Bloomberg-surveyed economists’ forecasts for a 50,000 gain. It should be noted, though, that strong revisions to prior months—adding 135,000 jobs—somewhat offset December’s shortfall. Both the unemployment rate... Read more