Yet encouraging signs of resilience in the jobs numbers better represent the underlying strength of the U.S. economy than the headlines suggest. Beneath the surface, the numbers tell a more optimistic story: job losses were concentrated in industries most exposed to COVID-19 risk. Stripping out pandemic-induced job losses, the rest of the labor market appears much stronger. Many of these job losses could prove temporary when social distancing measures ease. Approximately 60% of overall job losses were recovered between May and November, with an even greater recovery rate of 65% among restaurants and bars.

Source: Forbes February 17, 2021 15:45 UTC