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Renter Stimulus Plan Could Unlock $45 Billion
Posted
December 4, 2020
Views
1,318
Likes
31
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2
Engagement
2.50%
December 4, 2020
1,318
31
2
2.50%
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Dec 4, 20206:04Now PlayingThe U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery.
Nonfarm payrolls increased by 245,000 from the prior month and the unemployment rate edged down to 6.7%, the Labor Department said Friday. The data also showed a worrisome decline in Americans participating in the labor force, as more people left jobs and the workforce altogether.
Job gains missed economists’ estimates and partly reflected a decline of 93,000 temporary workers who had been hired for the decennial census.
The faint pulse raises odds the chances that President-elect Joe Biden will inherit an even weaker labor market next year, with the recovery at risk of stalling during the wait for widespread vaccine distribution. With almost 4 million Americans enduring long-term joblessness, the report may also help push Congress to pass new fiscal aid by year-end and could make Federal Reserve officials more inclined to provide new stimulus when they meet Dec. 15-16.
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