Economy

Jobs report shows stalling economy, Trump and Congress must act

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President-elect Joe Biden said Friday’s underwhelming jobs report foreshadows a “dark winter” that demands “urgent action” from President Donald Trump and Congress, as Covid spreads out of control across the U.S. and Americans face benefit cuts if Congress does not pass stimulus legislation.

Biden, in a statement issued by his office, said the latest report on the U.S. labor market, which showed significantly slowing job growth amid the coronavirus pandemic, “confirms we remain in the midst of one of the worst economic and jobs crises in modern history.”

“This is a grim jobs report. It shows an economy that is stalling,” Biden said.

Jobs increased by 245,000 in November, well below the…



Source cnbc.com

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