Here’s the good news for workers: The unemployment rate fell by a full percentage point to 6.9% last month — in the face of rising coronavirus cases, continued pressure on businesses, and no economic relief in sight from the government.
The bad news: That rapid snapback in employment after initial economic lockdowns eased is over. Job growth has slowed every month since June.
Between the lines: The labor market is still 10 million jobs short of where it was before Covid-19 wrecked the economy. Continue reading.