Last month the U.S. added 379,000 jobs, a sign that the economy is trending toward recovery. Of the jobs added last month, 355,000 positions were added in the hospitality and leisure sector, an industry that was one of the hardest hit during the pandemic.
While February was the second straight month of beating job growth expectations, the White House says the country is "far from out of the woods," in terms of job recovery.
"The job market is still 9.5 million jobs down from where it was a year ago. By the way, that's 800,000 jobs worse than the depth of the Great Recession, so we are just awfully far from out of the woods," Jared Berstein, a member of the White House Council of Economic Advisers, told Cheddar.
Furthermore, Black and Latino Americans are facing stagnation or even a rise in joblessness. The new report shows the rate of unemployment for Black Americans actually went up 0.7 percent last month while the jobless rate for Latinos fell only 0.1 percent to 8.5 percent.
"We have four million people stuck in long-term unemployment," Bernstein added.
While job growth for the country as a whole is improving, Bernstein said dissecting the job reports is key to understanding the entire story. As Americans wait on the Senate to debate over the most recent version of the American Rescue Plan, the White House has said parts of the plan directly address communities of color where joblessness has been rampant and others have had to work riskier, essential jobs through the pandemic.
"Now for those on the bottom leg of the K of this disparate K-shape recovery, unemployment insurance has been important," said Bernstein noting enhanced unemployment benefits are about to expire disproportionately affecting communities of color. "The American Rescue plan keeps them going."
Fans of the Grand Theft Auto series got a glimpse of the latest release that's not due out until 2025. The trailer was officially released after a leak on the 'X' platform, giving an idea to industry experts of the massive effect GTA will have on the gaming sector. Cheddar News senior reporter Michelle Castillo breaks it all down.
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New data shows job openings fell in October even though hiring remains healthy.
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English Wikipedia raked in more than 84 billion views this year, according to numbers released Tuesday by the Wikimedia Foundation, the non-profit behind the free, publicly edited online encyclopedia. And the most popular article was about ChatGPT (yes, the AI chatbot that’s seemingly everywhere today).
Wikipedia has released its list of most viewed articles for 2023 with the site seeing over 84 billion visits. The most searched topic was ChatGPT with nearly 50 billion page views
Closing arguments are happening in a federal trial over whether Jetblue Airways will be allowed to buy Spirit Airlines for $3.8 billion.
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