The world's largest economy continues to degrease after being stranded by the coronavirus crisis. The US created 638,000 jobs in October, compared to the 530,000 anticipated by economists. The country's unemployment rate thus falls to 6.9%.
US unemployment comes from standing at 7.9% in September, and experts acknowledge that these data are positive taking into account the outbreaks of coronavirus that the country has been experiencing in recent weeks.
The Fed has been warning of the link that inevitably links the virus and economic growth, which is why challenging months are still waiting in the country. The sectors that have hired the most in October have been precisely the worst hit so far by the pandemic. This explains why hiring in leisure and hospitality has rebounded by 271,000 new hires, of which 192,000 correspond exclusively to bars and restaurants.
Another piece of information left by the US Employment Department is that of the 22 million jobs destroyed by the pandemic, 11 million have already been recovered, just half.
Now the eyes are once again on Washington, where the election of the new president should unblock the launch of a new round of stimuli in one or two months that, added to the hypothetical vaccine, may be sufficient reasons to believe in the recovery of the economy of the country.