PEORIA, Ill. (WMBD) — Hiring slows as COVID-19 cases shoot up to record high numbers.
The U.S. Bureau of Labor and Statistics reports 245,000 jobs were added in November; a decline from October when 638,000 were reportedly added.
The pace of improvement in the labor market is on a downward trend.
Colin Corbett, an economics professor with Bradley University said spiking coronavirus cases is causing a loss in momentum.
“Part of that is from pandemic fatigue people are no longer acting as safely as they were um and so virus cases increase which hurts the economy even more,” Corbett said.
President-elect Joe Biden commented on the report Friday, saying we must work together to end the job crisis.
“It shows an economy that’s stalling and remains in the midst of one of the worst economic and job crises in modern history. But it doesn’t have to stay that way. If we act now, now I mean now, we can begin to regain momentum and start to build back a better future,” he said.
Corbett said the job flow could pick back up after the Covid-19 vaccines are administered.
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