2020 Dec. Jobs Report

U.S. employers ↓ 140,000 jobs 

Unemployment rate no 𝚫 at 6.7%

 

Employment ↓ is the first time since 2020 Apr. 

    Is this good or bad news?

Facts about the 2020 Dec. Numbers

Negatives

1] leisure and hospitality (restaurants, hotels, and amusement parks) ↓’d 498,000, 

2] ≈ ↓ of 700K in California

3] Temporary layoffs ↑ 277K

Positive offsets

1] Construction ↑ 51K

2] Manufacturing ↑38K 

3] Retail trade ↑ 121K

Other

1] Permanent layoffs fell ↓’d 348K

CONCLUSION

The current total loss of 140K stems from new Covid restrictions on activity enacted during the current surge in disease activity and there are signs that we have already began the early start of a positive growth business cycle.