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Chart of the Day: Pandemic Job Losses in January Remain Stable

The American economy gained 49,000 jobs last month and the unemployment rate fell to 6.3 percent. Those numbers are fairly meaningless, however, so instead I'll show you this chart of job losses over the past year:
The feeble employment gains in January are being taken as bad news, but I don't think that's the right interpretation. Roughly speaking, what happened was a big disruption last March, followed by a stabilization at -10 million jobs. That's the basic job loss from the pandemic, and there's no special reason to think it's going to change until businesses fully open up following the widespread adoption of vaccines.

In other words, we're likely to stay where we are until the middle of the year, at which point we should start to see some progress as restaurants and other public-facing businesses fully reopen. By the end of the year we'll know whether some of the job losses are permanent, but right now it's just too early to tell.

15 thoughts on “Chart of the Day: Pandemic Job Losses in January Remain Stable

  1. MindGame

    Since I'm the first one commenting, I want to ask if anyone else is just getting a turning "loading" symbol when you click the comment bubble at the top right. I presume it's a way to access previous comments and replies, but it's not working for me.

    1. Steve_OH

      Are talking about the one in the WordPress toolbar? It works for me. If I click it, it gives me a list of replies to comments that I've made, etc.

      1. MindGame

        Yeah, that's the one. I get a filter selector with All, Unread, Comments, etc. but below it just the turny thingy. "Likes" is also a category listed, but I haven't seen any way to "like" anything.

        I'm using Firefox, if that's a factor for the panel not loading properly. Maybe I'll try it on Chrome or Edge to see if that makes a difference.

        1. Steve_OH

          I have All | Unread | Comments | Follows | Likes, and they're all populated (there are likes from a different WordPress blog that I'm a member of).

          Under All, I see all of the replies to my comments.

      2. MindGame

        I'm logged in with username and password (not connected to a WordPress account). I wonder if that has something to do with it?

        1. KawSunflower

          I have a WP account - thought I had to - but see nothing above the menu other than the pic I uploaded, with the dashboard symbol at the far left. There is no comment bubble at the top right. When I edited my profile, deleting the dashboard to see if I could then reinstall it, I had trouble getting it back. Before it was back, the bottom line under the article offered only "view comments," rather than "comment."

          My only other WP experience is with a friend's family blog, so comments are inserted differently.

          Maybe this seeming anomaly is bc my cellphone is using "Samsung Internet," but is Chrome-related? Not wanting to switch for only WP, which I find annoying.

          But I can always come for the photos - they don't strain my eyes!

          1. KawSunflower

            Bizarro world: left comment, WP toolbar disappeared, original comment still appeared below in comment box!, do deleted that, don't see how to access profile, & just don't see any reason for this disparity in experiences.

        2. geordie

          I had the issue when not using a wordpress account but it is gone after I switched to one. They are using the same email address though and now I am seeing some weird behavior where if seems to remember my old username but there is no comment history. ::shrug::

      3. SwamiRedux

        Not to spoil your weekend or anything, but I'm back now that Kevin is on a comment-friendly platform.

        Miss me much?

  2. theAlteEisbear

    Given that the asymptote has survived two serious escalations in the infection rate, your graph seems to indicate the economy may have bled as many working people out as it's going to - for now.

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