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DJ Lower Jobless Rate Fall 'Nothing To Get Excited About' -- Market Talk

· 02/05/2021 09:44

0944 ET - January's jobs report brings a drop in the jobless rate to 6.3% from 6.7%, but that "is nothing to get excited about," Pantheon Macroeconomics says. The research firm says "the modest 10K increase in private services jobs, after a 280K drop in December, seems reasonable," since December bore the brunt of new Covid restrictions. "The labor market was frozen at the start of the year," Pantheon says, adding that fully recovering the pandemic's 10M-plus job lost won't happen "until the economy can reopen more fully and people are confident in mingling again." (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

February 05, 2021 09:44 ET (14:44 GMT)

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