U.S. job growth slows sharply; long-term unemployment rises | Reuters

U.S. job growth slows sharply; long-term unemployment rises | Reuters 1WASHINGTON (Reuters) – The U.S. economy added the fewest workers in six months in November, hindered by a resurgence in new COVID-19 cases that, together with a lack of more government relief money, threatens to reverse the recovery from the pandemic recession.

The closely watched employment report also showed a surge in people experiencing long periods of joblessness, putting pressure on Congress to come up with another rescue package.

The report only covered the first two weeks of November, when the current wave of coronavirus infections started. Infections, hospitalizations and death rates have sky-rocketed, leading some economists to anticipate a drop in employment in December or January as more jurisdictions impose restrictions on businesses and consumers shun crowded places like restaurants.

Source: U.S. job growth slows sharply; long-term unemployment rises | Reuters