US Recovery Continues to Slow - 49,000 Jobs Added in January

What Happened:

The US economy added 49,000 jobs in January.
Unemployment fell to 6.3%, beating analysts expectations. However, labor force participation also decreased making the news less positive.
The nation remains down about 9.9 million jobs since the start of the Coronavirus pandemic.
Although the addition of jobs and the lower unemployment rates are good news, economists warn that much more will be needed to get out of this crisis.
Congress passed a key budget resolution Friday that will pave the way for Democrats to pass Biden's $1.9 Trillion Covid-19 Relief Package without the threat of a GOP filibuster. If passed, economists believe the stimulus may help the recovery.

Photo Credit: Elchinator

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