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1/8, 2:31 PM (Source: TeleTrader)
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US nonfarm payrolls down by 140,000 in December

Nonfarm employment in the United States was down by 140,000 in December, falling for the first time since April, the US Bureau of Labor Statistics reported on Friday. The unemployment rate stood unchanged at 6.7%, with 10.7 million unemployed people across the country.

The number of persons on temporary layoff rose by 277,000 to 3.0 million. At the same time, permanent job losses stood at 3.4 million, which was 348,000 lower than the prior month. The labor force participation rate remained at 61.5%.

During the last month of 2020, 23.7% of employed persons teleworked because of the coronavirus pandemic, up from 21.8% in November. Meanwhile, 15.8 million persons reported that they were unable to work because their employer closed or lost business due to the pandemic. The figure was one million higher than in the prior month. Of those, 12.8% received at least some pay from their employer. About 4.6 million persons not in the labor force in December were prevented from looking for work due to the pandemic.

Breaking the News / MD