Jan 13, 2021
WASHINGTON (AP) Layoffs spiked in November compared with the previous month and the number of job openings slipped, signaling that the job market has stalled as the resurgent coronavirus has brought about another wave shutdowns of restaurants and bars and hobbled consumer spending.
While the layoffs were concentrated among restaurants, bars and hotels, the slowdown in job postings was widespread across most industries, showing a reluctance by businesses to hire more people amid a pandemic fueled recession.
The number of open jobs at the end of November slipped 1.6% to 6.5 million, the Labor Department said Tuesday, its first drop since August. Layoffs, however, soared 17.6% to 1.9 million, driven mostly by job cuts at restaurants, bars and hotels, which more than doubled.