Jobs Report Shows Hiring Slowdown As COVID-19 Cases Rise
The economy added 245,000 jobs in November, showing the fewest monthly gains since the beginning of the recovery.
245,000 jobs were added to the economy in November. That's the slowest rate of growth since the recovery began and could be a harbinger of what's to come as COVID-19 cases rise.
Over 10 million Americans are out of work, and it's hit some more than others — something experts have been warning about.
"The economic downturn has not fallen equally on all Americans," said Federal Reserve Chairman Jerome Powell during Capitol Hill testimony.
The rate of unemployed Black workers is almost double what it is among White workers. Unemployment has also hit men harder than women.
The report comes as some CARES Act benefits are set to expire. Millions of Americans will lose those benefits if Congress doesn't pass another relief bill soon.
"It would be stupidity on steroids if Congress left for Christmas without doing an interim package as a bridge" said U.S. Sen. Mark Warner at a conference introducing the latest bipartisan bill.
Lawmakers are also fast approaching another deadline: A government shutdown is on the horizon if they don't agree on a funding bill by Dec. 11.
Report: Gen Z accumulating debt faster than other generations
Generation Z had, on average, more than $16,000 of debt at the end of of 2022. That's an increase of 3% from earlier in the year.
Child care costs rising with more private equity firm investments
Experts are cautioning that more private equity firms investing into child care could make the affordability crisis worse.
Foot Locker closing more than 400 stores in malls
Though it's shuttering stores in malls, the company has plans for hundreds of new concept stores.
How are U.S. jobs reports compiled?
The data is based off estimates and not full official counts of the entire labor force, which is now over 160 million strong in the U.S.
How you can clean the air to protect yourself from COVID
People can remove harmful aerosol particles, like the virus that causes COVID, from the air on their own terms.
Lawmakers react after Nashville school shooting
After a shooter killed 6 at a Nashville school, some lawmakers promoted current gun safety legislation, with others urging an assault weapons ban.