US unemployment rate falls, but job creation remains anemic

US unemployment rate falls, but job creation remains anemic

The headline unemployment rate in the United States fell 0.4 percent in January to 6.3 percent, yet the world’s largest economy created only 49,000 new jobs amid the second wave of the Covid-19 pandemic, the Bureau of Labor Statistics said Friday.

Significantly, the BLS revised its December report to indicate that 227,000 jobs were eliminated in the final month of 2020, 87,000 more than the initial estimate of 140,000.

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