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Friday, March 29, 2024

US job market thrown into reverse

US job market thrown into reverse

Decline in payrolls for first time since April underscores severity of continuing Covid wave

Employees work in a restaurant open for take-away or delivery orders only, in Burbank, California. A loss of jobs in the Covid-battered restaurant industry has been a factor in the setback for the US labour market. (AFP Photo)

WASHINGTON: The US labour market lost jobs in December for the first time in eight months, providing the strongest evidence yet of how the surge in coronavirus cases is weighing on the economy.

Nonfarm payrolls decreased by 140,000 from the previous month and the unemployment rate was unchanged at 6.7%, the Labor Department said on Friday.

The weakness largely reflected job cuts at restaurants hit hard by…

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