The Women’s Flat Mars Society Flat Marser Shirt rate of growth again after the peak unemployment in 2020 is very impressive. About half of the jobs lost since April 2020 have returned. However, with today’s December report, employment growth appears to have stalled. That’s almost all because the hospitality and entertainment sector gently saw a big job loss in December.
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December’s unemployment rate was 6.7 percent higher than the previous month. In addition to the entertainment and hospitality sectors, most other key sectors, with the exception of education and government, actually saw job growth in the December report.
The December report put the Womens Flat Mars Society Flat Marser Shirt U.S. economy in the midst of a 2008-2019 expansion in the unemployment rate. Broadly speaking, we’re back to where we were around 2013.
Unfortunately, that figure is still higher than the Womens Flat Mars Society Flat Marser Shirt highest unemployment rate since some of the lighter U.S. recessions including the 2000 dot com collapse and the 1970 and 1954 recessions. Fortunately, we have overcome the terrible and unprecedented unemployment in the spring of 2020.
However, sluggish growth will raise new challenges. Plus the real weakness in the entertainment sector shows how unbalanced the U.S. economy is now. In fact, many sectors are witnessing a more standard recovery, but entertainment and hospitality activity is declining markedly because
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It is also important that the hospitality sector provides part-time jobs and disproportionate jobs for lower-skilled workers. The weakness in the entertainment sector is not evenly felt across the entire U.S. population and is likely to have a greater impact on young people and those on lower incomes.
Of course, much of the weakness in December was due to an increase in COVID-19 cases. That’s evident in industry data because the main motivation for the weak report is the entertainment and hospitality sector, where nearly half a million jobs are lost and clearly feels the pain from measures that create social gaps.