The January jobs report announced that unemployment is at 6.3%, a slight decrease from the 6.7% reported in December.
There were 49,000 jobs added this month, a slight improvement from the loss of jobs reported in December, although we are still seeing 10.1 million Americans unemployed as 2021 kicked off. This number is lower than April 2020, but still much higher than pre-COVID levels.
Employment in leisure and hospitality declined by 61,000 in January, with 18,000 jobs being lost in accommodations and 19,000 in food and beverage service. The unemployment rate is at 15.9%, which decreased by 0.8% from the 16.7% reported in December.
From the Bureau of Labor Statistics
The number of temporary layoffs – or furloughs – is at 2.7 million, a 0.3 decrease from the 3.0 million in December. This number is down considerably from 18.0 million in April but is still 2.0 million higher than it was in February.
14.8 million persons reported in January that they had been unable to work because their employer closed or lost business due to the pandemic. This includes those that did not work at all and those who worked fewer hours.
The Department of Labor reported that another 779,000 workers filed for unemployment the week of February 4, which was a decrease of 33,000 from the previous week, which reported 812,000 filers.