Economics
U.S. Jobs Recovery Falters as Virus Surge Snaps Hiring Streak
- Business restrictions hit restaurant jobs particularly hard
- Many sectors showed gains, suggesting economic pain contained
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The U.S. labor market lost jobs in December for the first time in eight months, reflecting a plunge in restaurant employment that highlights how surging coronavirus infections are taking a greater toll on parts of the economy.
Nonfarm payrolls decreased by 140,000 from the prior month, according to a Labor Department report Friday that bucked economists’ forecasts for a modest gain. The unemployment rate held at 6.7%, halting a string of seven straight drops.