The Department of Labor's monthly report showed that the economy added 245,000 jobs in November, when projections hoped that 440,000 jobs would be added. The unemployment rate decreased to 6.7 percent as COVID cases begin to spike again.
BREAKING: U.S. added 245,000 jobs in November, vs 440,000 expectedhttps://t.co/5zpXf4Im9a pic.twitter.com/Fj0ysTHfM9
— CNBC Now (@CNBCnow) December 4, 2020
#JobsReport: Job creation slowed in Nov, well below expectations. Payroll jobs in private sector were ??344,000.
— Vance Ginn (@VanceGinn) December 4, 2020
Unrate is ??8 % pts from April high but 3.2 % pts higher than Feb. Unemployed, at 10.7M, trends down in Nov but is 4.9M higher than Feb.@WSJ graphics below. https://t.co/rKvdW12HoA pic.twitter.com/CNt10laX8X
As the coronavirus continues to affect the economy, Senate Republicans shined a light on the need for additional stimulus relief, which Democrats continue to block. Additional funding for the Coronavirus, Aid, Relief, and Economic Security (CARES) Act and Paycheck Protection Program (PPP), which were passed by Senate Republicans in the spring, would deliver even more relief to American families and small businesses.
Today’s jobs report makes it plainly clear:
— Senate Republicans (@SenateGOP) December 4, 2020
1. Republican policies are key to the Great American Comeback.
2. Pelosi + Schumer must stop the all-or-nothing obstruction. Congress must pass targeted COVID relief for families across America.
We have no time to waste. https://t.co/irbFJeSk0r
With Speaker Pelosi and Senate Minority Leader Chuck Schumer continually stalling COVID relief negotiations, the passage of additional funding before the end of the year is unlikely.