As Covid-19 cases continue to rise, employment gains in the US continue to slow. The upcoming employment report for November estimates between 200K-610K new jobs created with the official number being announced tomorrow.Under normal conditions, a consensus of 500K new jobs would be a great sign for the economy, but given the context, it is important to consider some other metrics when analyzing this report.First, the current unemployment rate sits at 6.9%, a high but not unheard-of value and certainly better than the 14% rate seen in April. A key question to ask with regard to the unemployment rate is why the number … (full story)
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