U.S. Jobs Recovery Faltered in December Amid Virus Surge

(Bloomberg) -- The U.S. labor-market recovery faltered in December with the first decline in payrolls in eight months, as soaring coronavirus infections exacted a bigger toll on jobs and jeopardized the economy’s progress.

Nonfarm payrolls decreased by 140,000 from the prior month and the unemployment rate was unchanged at 6.7%, the Labor Department said Friday. The median estimate in a Bloomberg survey called for a 50,000 increase in employment and a jobless rate of 6.8%.

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