The US economy opened its right foot in 2020: More than 200 new jobs were added to the economy…
The US economy opened 2020 with its right foot: more than 200 new jobs added to the economy,
Despite optimism, the unemployment rate rose slightly, but remains historically low. There is concern that the Corona epidemic will affect the global economy, but for now the new year has started off well.
225 new jobs were added to the US economy in January, a huge amount that shows the strong economy in the world continues its growth trend last year.
Despite the optimism surrounding the monthly jobs report, many economists have been somewhat reluctant to mention that the data reflects the situation that preceded the outbreak of the Corona epidemic, which is expected to cause significant economic damage worldwide.
225 new jobs were added to the US economy in January, a huge amount that shows the strong economy in the world continues its growth trend last year.
Despite the optimism surrounding the monthly jobs report, many economists have been somewhat reluctant to mention that the data reflects the situation that preceded the outbreak of the Corona epidemic, which is expected to cause significant economic damage worldwide.
The unemployment rate rose slightly to 3.6% (in December it was 3.5), but it is still the lowest unemployment rate in five decades, according to figures released by the US Bureau of Statistics. Average wages rose 3.1% (compared to January 2019), but this is likely the result of the minimum wage change in 21 countries that occurred on January 1.
The number of jobs added to the economy - 225 - is significantly higher than projected by many economists (about 165). In addition, updates were made to previous reports: In November, 5 jobs were added, while in December, about 211 new jobs were added, so that the three-month average stands at XNUMX jobs.
The manufacturing industry has lost close to 12 jobs, presumably following the grounding of the Boeing 737MAX aircraft and the decision by a company that supplies components to this model to lay off thousands of workers. About 44 jobs were added to the construction industry While in the hospitality industry (hotels), almost 36 new jobs were added.
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