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It’s down a lot from the hiring we saw in October. And the reason for that is clear: COVID resurgence. Christopher Low, chief economist at FHN Financial, says it’s particularly evident when you compare goods-producing industries and service industries. The former saw “solid growth,” Low said, while the latter has seen a “real slowdown.” Low also says the entire reason we saw a slight drop in the unemployment rate is because of how many people stopped looking for work altogether.
Marketplace’s Nova Safo has more.