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Response to mahatmakanejeeves (Original post)

Fri Feb 5, 2021, 10:59 AM

1. Was jammed up with laptop AND iPad (iOS) upgrades this morning



By the time they were done you came to the rescue! The Senate was working all night with their vote-a-rama on amendments to the budget conference framework and finally voted on their final version at around 5:30 this morning.

Here is WaPo's report -

The economy gained 49,000 jobs in January

By Eli Rosenberg
Feb. 5, 2021 at 8:32 a.m. EST


The U.S. economy added 49,000 jobs in January, a modest increase amid the labor market’s ongoing strain from the coronavirus pandemic. The unemployment rate fell to 6.3 percent.

The January data, released by the Labor Department, is yet another reminder of how much ground the labor market still needs to regain to return to pre-pandemic levels. The country has recovered just over half of the 22 million jobs lost between February and April, but the economic recovery has recently flatlined.

In December, the labor market slid backwards, shedding 140,000 jobs, primarily due to steep loses in the leisure and hospitality industry. And the economy only grew by a paltry 1 percent in the last last three months of 2020, according to last week’s Bureau of Economic Analysis figures.

The data comes as negotiations over a new stimulus package heat up in Congress. Democrats appear to be moving forward with President Biden’s $1.9 trillion stimulus plan that would extend unemployment benefits through September, as well as provide a $1,400 stimulus checks for many Americans. It would also raise the minimum wage, increase the child tax credit, provide rental assistance and money for nutrition programs, while setting aside hundreds of millions of dollars in aid to state and local governments.

https://www.washingtonpost.com/business/2021/02/05/january-jobs-report-2021-unemployment/


NYT -

The U.S. economy added 49,000 jobs in January, a weak showing after a virus surge.

The American economy produced little relief last month as the winter pandemic surge continued to stymie a rebound in the labor market. The weak showing comes in the midst of a fresh effort in Washington to provide a big infusion of aid to foster a recovery. U.S. employers added 49,000 jobs in January, the Labor Department said Friday. The number reflected a disappointing month of hiring even as it provided hope of renewed economic momentum.

The unemployment rate fell to 6.3 percent, from 6.7 percent. The limited January gains followed an outright setback in December, when the economy shed jobs for the first time since April. December’s loss, originally stated at 140,000, was revised on Friday to 227,000. The gain for November was revised from 336,000 to 264,000. There was a small victory in avoiding a second consecutive month of job losses, a prospect that some economists had feared given the one-two punch of rising coronavirus cases and waning federal aid.

“It is a positive sign that we got over those speed bumps and the wheels haven’t completely come off the car,” said Nick Bunker, head of research for the job site Indeed. But Mr. Bunker said the gains were nothing to celebrate. The economy still has more than nine million fewer jobs than it did before the pandemic, and progress has slowed significantly since the summer. “It’s not clear that this one month assuages those concerns,” he said. “A hundred thousand here, a hundred thousand there is steady progress, but it’s not the sort of gains we need to see.”

Looking to strengthen the recovery, President Biden and congressional Democrats have been pressing for a $1.9 trillion relief measure. The legislation took a step forward early Friday when the Senate narrowly passed a budget resolution that will next go to the House, where Democrats will not need Republican support to approve it.

https://www.nytimes.com/live/2021/02/05/business/stock-market-today/the-us-economy-added-49000-jobs-in-january-a-weak-showing-after-a-virus-surge

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