DJ US January Labor Report Disappointed But Trend Should Improve Soon -- Market Talk

· 02/05/2021 09:46

1446 GMT - The 49,000 rise in U.S. payrolls in January is weaker than anticipated, but the job creation pace should improve in the next months as Covid-19 related restrictions ease and the vaccination program gains momentum, James Knightley, ING's chief international economist, says. February's report should be better given that the California re-opening is underway, while the March release should also see the effect of New York restaurants reopening for dine-in, he says. "That said, we aren't going to get meaningful improvements in the labor market until Covid-19 containment measures are lifted on heavily impacted sectors such as travel, leisure and hospitality," he says, something that is likely to be several months away. (xavier.fontdegloria@wsj.com)

(END) Dow Jones Newswires

February 05, 2021 09:46 ET (14:46 GMT)