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Added on the 08/01/2016 17:11:10 - Copyright : Reuters EN
As if the end of the year weren't hard enough, the December jobs report from the Bureau of Labor Statistics said 140,000 jobs were lost last month. According to Business Insider, the data shows all of those lost jobs were held by women. Among the newly-unemployed, Black and Latina women working in retail and education sectors were hit the hardest. The US posted a surprise decline in payrolls in December and all of the 140,000 jobs lost were held by women. As the COVID-19 pandemic continues to spread, the US economic recovery has been mostly stagnant. Small businesses nationwide have been hit particularly hard. Many are being forced to lay off staff or close altogether to curb the pandemic's spread.
For three months, they held more jobs than men in the US economy — something that had only occurred one other time in history, during a short period in 2009 and early 2010. Sure, there were still many other gender gaps: women were more likely than men to work part-time, for example, because of caregiving responsibilities at home, and even among full-time workers, they earned on average only 81 cents for every dollar of their male peers. The pandemic quickly changed that story. And now, it just got worse.
The solid jobs gains and the sharp increase in wages bolster the Fed's case for a December rate hike. As Fred Katayama reports, that could also support consumer spending in the holiday shopping season.
The solid jobs gains and the sharp increase in wages bolster the Fed's case for a December rate hike. As Fred Katayama reports, that could also support consumer spending in the holiday shopping season.
Growth in the jobs market slowed for the third straight month. As Fred Katayama reports, the report could make the Fed more cautious about raising rates.
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