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December Jobs Report: Recovery Goes Into Reverse



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The already sputtering economic rebound went into reverse last month as employers laid off workers amid rising coronavirus cases and delayed government aid.U.S. employers cut 140,000 jobs in December, the Labor Department said Friday. It was the first net decline in payrolls since last spring’s mass layoffs and followed five straight months in which hiring had slowed.The report was a grim capstone to a year in which the economy lost more than nine million jobs, the worst on a percentage basis since World War II. It also means that President Trump will be the first chief executive …

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