Soaring Covid-19 infections likely eroded US employment recovery

Washington (AFP) – Hiring in the United States likely stalled at the end of 2020, economists say, as coronavirus infections soared and Washington lawmakers squabbled over a massive spending bill that was approved only at the last minute. The Labor Department on Friday will release the December jobs report, the final report for a year that saw the US economy unraveled by the Covid-19 pandemic, which continues to rage even as vaccines are being rolled out. Business closures to stop the virus from spreading sent the unemployment rate skyrocketing in April from its record-low level, and though it …

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HEDGE accordingly