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  • D. Brit

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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