WASHINGTON • The US economy shed jobs last month, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, all but confirming a recession is underway.. Read more at straitstimes.com.
WASHINGTON • The US economy shed jobs last month, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, all but confirming a recession is underway.
According to a Reuters survey of economists, non-farm payrolls had been forecast to decrease by 100,000 jobs last month, snapping a record streak of employment gains dating to October 2010. Unemployment was seen rising to 3.8 per cent. Job losses are similarly mounting across Europe, intensifying pressure on governments to protect their labour markets.
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