The Bureau of Labor Statistics February report on jobs today faired much better than January’s 49,000 jobs added, though still slow growth because of COVID19, the tune of 379,000 jobs added to the economy brought a small glimmer of hope to the battered job market, though the nation’s unemployment rate did very little for optimism as it only fell 0.1 percent to 6.2 percent.
Most jobs were added in leisure and hospitality as those industries have been hit hardest during the pandemic, and people are starting to travel again based on eased COVID19 restrictions, plus jobs fell in state and local government, education, construction, and mining, where February inclement weather may have played a role.
It’s been nearly a year since the pandemic struck, shutting down all forms of normal to land the jobless claims at 6.6 million, and it’s still hitting us hard to this day where this week’s unemployment claims continue to report staggering numbers, landing at 745,000 claims.
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