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US added just 49,000 jobs in January, unemployment drops to 6.3%

Small Business Struggles COVID-19
Posted at 5:46 AM, Feb 05, 2021
and last updated 2021-02-05 08:52:50-05

WASHINGTON — U.S employers added just 49,000 jobs in January, a sign that that the viral pandemic retains a tight grip on the economy nearly a year after it triggered a painful recession.

The drop follows a decline of 227,000 jobs in December, the first loss since April.

The unemployment rate for January fell sharply to 6.3%, the Labor Department said Friday.

About half the drop occurred because some of those out of work found jobs, while others stopped looking for work and were no longer counted as unemployed.