U.S private sector employment declined by 123,000 jobs from November to December, the first decline since April, according to PR Newswire press release. The job losses, mainly concentrated in retail, leisure, and hospitality, underlined the pandemic’s impact on the labor market.
- By Company Size
- Medium businesses added 37,000 jobs.
- Small businesses shed 13,000
- Large businesses lost the most jobs at 147,000
- By Sector
- Franchise employment lost the fewest jobs at 5,300
- Goods-producing businesses shed 18,000 jobs.
- Service-providing businesses led the job declines at 105,000
U.S stocks and the dollar are currently declining. SPY is down 0.48% on premarket, QQQ: NASDAQ is down 1.59% on premarket, EURUSD is up 0.05%