The unemployment rate stayed at 6.7%, the first time it hasn’t fallen since April.
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For the first month since April, the U.S. economy lost jobs in December. Plus, Biden taps nominees for the Departments of Commerce and Labor. And, at the current government auction, prices for 5G radio spectrum are through the roof.
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The falling jobs numbers hit the restaurant sector especially hard
“Almost half a million job losses in leisure and hospitality, three-quarters of them at restaurants,” said Christopher Low, chief economist at FHN Financial. The rest of the labor market, however, isn’t doing quite as badly. “And, in fact, the highest-paying jobs in the goods-producing sector — manufacturing, construction and even in the oil-producing sector — they were quite strong.”
Paul Morigi/Getty Images for Fortune/Time Inc and Jessica Kourkounis/Getty Images
Music from the episode
The Young Machines (Album Leaf Remix) Her Space Holiday
The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Senior Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Brian Allison
Engineer
Meredith Garretson Morbey
Senior Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Alex Schroeder
Producer
