The unemployment rate falls to 6.7%
The surge in cases is probably the reason why America saw only the addition of 245,000 jobs in November. Lowest in the last 6 months. The United States is in the midst of a fresh wave of COVID-19 infections. Nearly 200,000 new cases were reported on Wednesday and hospitalizations approached a record 100,000 patients, according to a Reuters tally of official data. The unemployment rate fell to 6.7% from 6.9% in October. It, however, has been biased down by people misclassifying themselves as being “employed but absent from work,” keeping the focus on long-term unemployment and people working part-time for economic reasons. To read more on this, click here.
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