economic damage from the virus, an estimated
18 million people are collecting some form of
jobless aid.
In Texas, applications for benefits surged by
nearly 18,000 in Texas in the aftermath of
freezing weather and power outages. And
jobless claims rose by more than 17,000 in Ohio,
where the weekly totals have been thrown off
by potentially fraudulent claims.
Restrictions on businesses and the reluctance
of many Americans to shop, travel, dine out or
attend mass events have weighed persistently
on the job market. Job growth averaged a
meager 29,000 a month from November through
January, and the nation still has nearly 10 million
fewer jobs than it did in February 2020. Though
the unemployment rate was 6.3% in January, a
broader measure that includes people who have
given up on their job searches is closer to 10%.
“The source of all labor market damage continues
to be COVID-19,” said AnnElizabeth Konkel,
economist at the Indeed Hiring Lab. “Increased
vaccine distribution is promising, since the public
health situation must improve for there to be
a full economic recovery. When we completely
return to ‘normal’ is still unknown.”
The data firm Womply reports that 64% of movie
theaters and other entertainment venues, 40%
of bars and 34% of hair salons and beauty shops
are closed. And on Wednesday, the Federal
Reserve reported that across the country,
“overall conditions in the leisure and hospitality
sector continued to be restrained by ongoing
COVID-19 restrictions.”
The government economists reported a
strong job gain for February of near 200,000,