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By CATHERINE THORBECKE, ABC News
(WASHINGTON) U.S. employers added 379,000 jobs last month, pushing the unemployment rate for February down by a fraction of a percentage point to 6.2%, the Department of Labor said Friday.
Friday’s jobs report highlights how the pace of the labor market’s recovery remains hampered by the ongoing coronavirus pandemic. The pre-pandemic unemployment rate in the U.S. was 3.5%.
Notable job gains last month occurred in leisure and hospitality (which saw an uptick of 355,000) that the DOL linked to easing pandemic-related restrictions. Employment declined last month in state and local government education (which saw a loss of 69,000 jobs) and construction (which shed 61,000 jobs).
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The recovery remains hampered by the ongoing coronavirus pandemic.
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U.S. employers added 379,000 jobs last month, pushing the unemployment rate for February down by a fraction of a percentage point to 6.2%, the Department of Labor said Friday.
Friday s jobs report highlights how the pace of the labor market s recovery remains hampered by the ongoing coronavirus pandemic. The pre-pandemic unemployment rate in the U.S. was 3.5%.
Notable job gains last month occurred in leisure and hospitality (which saw an uptick of 355,000) that the DOL linked to easing pandemic-related restrictions. Employment declined last month in state and local government education (which saw a loss of 69,000 jobs) and construction (which shed 61,000 jobs).
In summary
Here are additional protections that need to be implemented in this relief package to better serve BIPOC-owned and rural small businesses:
By Paulina Gonzalez-Brito
Tate Hill, Special to CalMatters
Tate Hill is the executive director of Access Plus Capital, a small business loan fund for low- and moderate-income entrepreneurs, tate.hill@accesspluscapital.com.
Small businesses owned by Black, Indigenous and People of Color are being disproportionately crushed by the weight of the pandemic – and many aren’t positioned to survive the next few months.
So, when Gov. Gavin Newsom announced $500 million in grant funding and a temporary tax relief package for small businesses last month, it seemed like a sign of hope. And while we agree that any aid at this moment is a step in the right direction, a closer look reveals a plan that is too simplistic, flawed and ignores many crucial considerations needed to help BIPOC-owned and rural small businesses access these grants.
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