The president of the United States, Joe Biden, considered that the reactivation of the labor market is “very strong” in spite of the November figures: “Americans are going back to work and the job recovery is very strong.”
For her part, the Secretary of Commerce, Gina Raimondo, qualified the figures that disappointed the market, highlighting that the “economy is fundamentally solid.”
“Employers hire and employees rejoin the job market,” Raimondo said on CNBC.
Throughout 2021, employers added jobs thanks to the anticovid vaccination, which allowed them to resume normal operations, at an average rate of about 550,000 jobs per month.
“Employment increased by 18.5 million positions since April 2020,” when economic activity was almost paralyzed by the pandemic, the department said in a statement.
However, the economy has yet to regain nearly four million jobs to return to its pre-pandemic level, but the data shows signs of improvement in the labor market.
The number of unemployed fell by 542,000, to stand at 6.9 million people, according to the report, far from the 5.7 million before the pandemic.
The number of people on temporary layoffs, standing at 18 million in April 2020 when lockdown from the pandemic was at its worst, dropped to 801,000, roughly the pre-Covid-19 level.
The unemployment rate for most racial groups declined in November, while the share of people employed or looking for work – which had stagnated in recent months as many chose not to work – rose slightly.
Professional and business services added 90,000 jobs, while manufacturing and construction added 31,000 each last month. Retail trade, meanwhile, lost 20,000 jobs.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
