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          • Cision PR Newswire
          • Coupons – Best websites
            • Aeromexico Rewards Chart
            • Get Avios Points Free
        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Bitcoin Price Bulls have been rejected at $7,000
        • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
        • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
          • Roll up the Sleeves! American Airlines was down -10.34%
          • Mortgage calculator rates today April 2, 2020
          • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
          • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
            • With Bank of America card you can request a payment deferral online
              • Bank of America fields 150,000 installment deferral demands
            • Coronavirus – Travel Insurance no cover cancellations
              • Bank of America said it won’t cut any positions
          • Bitcoin Price Today April 2 – BTC rise to $6,700
          • Mortgage calculator rates today March 31, 2020
          • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
          • Bitcoin Price Recovering After a Sharp Decline
          • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
          • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
        • Bank of America U.S. Minimum Hourly Wage Reaches $20
          • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
          • P2P Crowdlending – Average Interest Rate 18%
          • $633 Million BTC Transferred For Simply $0.26 Payment
        • Prime ICO Advertising and marketing Companies
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
            • Bitcoin Price Today April 3
            • Bitcoin Price Is Sometimes Bullish in Q2
            • Bitcoin Price Tumble Beneath $ 6,000
            • BTC Price Today 5 | April, 2020
            • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
              • Today Bitcoin Price at $6,600
                • Bitcoin Price Bulls Reaches: “Live or Die”
                • BTC Price Today | 6 April 2020
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • Bitcoin Price Rejected $6,600
              • Bitcoin Price Trace It Will Fall to $ 5 K
              • BTC Price Today April 4
                • Stock Market Today 31 March, 2020
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
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      • Mortgage calculator rates today April 1, 2020
      • Mortgage Calculator – Students Benefits
      • Mortgage Calculator – Homeowners and renters Get Payment Relief
      • Calculator for mortgage to millennials
      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
      • Mortgage Calculator Home – Is it time to repair your own home mortgage?
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      • Mortgage Calculator Coronavirus: UK mortgage market goes into lockdown
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            • Bitcoin Price Volume Decline with Lowering Volatility
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        • Mortgage rates today, April 3, 2020 plus reviews
          • cmc currency details
            • cmc exchange details
              • Shortcodes
        • Microsoft Vulnerability: Hundreds of Microsoft Servers Contaminated By Crypto-Mining Botnet Since 2018
          • Cision PR Newswire
          • Coupons – Best websites
            • Aeromexico Rewards Chart
            • Get Avios Points Free
        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Bitcoin Price Bulls have been rejected at $7,000
        • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
        • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
          • Roll up the Sleeves! American Airlines was down -10.34%
          • Mortgage calculator rates today April 2, 2020
          • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
          • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
            • With Bank of America card you can request a payment deferral online
              • Bank of America fields 150,000 installment deferral demands
            • Coronavirus – Travel Insurance no cover cancellations
              • Bank of America said it won’t cut any positions
          • Bitcoin Price Today April 2 – BTC rise to $6,700
          • Mortgage calculator rates today March 31, 2020
          • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
          • Bitcoin Price Recovering After a Sharp Decline
          • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
          • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
        • Bank of America U.S. Minimum Hourly Wage Reaches $20
          • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
          • P2P Crowdlending – Average Interest Rate 18%
          • $633 Million BTC Transferred For Simply $0.26 Payment
        • Prime ICO Advertising and marketing Companies
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
            • Bitcoin Price Today April 3
            • Bitcoin Price Is Sometimes Bullish in Q2
            • Bitcoin Price Tumble Beneath $ 6,000
            • BTC Price Today 5 | April, 2020
            • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
              • Today Bitcoin Price at $6,600
                • Bitcoin Price Bulls Reaches: “Live or Die”
                • BTC Price Today | 6 April 2020
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • Bitcoin Price Rejected $6,600
              • Bitcoin Price Trace It Will Fall to $ 5 K
              • BTC Price Today April 4
                • Stock Market Today 31 March, 2020
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
  • Lifestyle
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          • Is Roblox shutting down? Vs. Robox will be listed NYSE
      • Music
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    • Luxury
      • Most Expensive Watches
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      • Best Luxury SUVs for 2020
      • Porsche
      • Luxury Yatchs
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      • Best Electric Cars
      • Best Luxury Yoga Retreats
      • The Best Luxury Sports Cars
      • Best Time to Buy a Car
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        • Direct Payments in coronavirus
    • Tech
      • iPhone 12
  • Banking
    • Banks “Best of…”
      • Best Online Banks of 2020
      • Best Bank for Home Loans 2020
      • Best Bank for FHA Loan of 2020
      • Best Bank Interest Rates March 2020
      • Best Bank Promotions and Bonuses 2020
      • Best Online Checking Accounts of 2021
      • Best Money Market Accounts of 2020
      • Best CD Rates of 2020
      • Best Online Savings Accounts of February 2020
      • Best KYC Solutions 2020
      • 7 Best Mobile Banking App 2020
    • Banks Guides
      • KYC Verification: How it is Done?
      • Personal Finances in Coronavirus
      • 6% cd rates – They Exists ?
    • Transfer Money Online
      • Send Money Online
      • Best App To Send Money Online
    • Mobile Banking
    • Digital Bank
      • JPMorgan Chase
      • Capital One
      • Royal Bank of Canada
      • Royal Dutch Shell
      • Chase Online
      • Western Union
  • Credit Cards
    • Credit Cards “Best of…”
      • Capital One Credit Card – Best Cards of 2020
      • Best Credit Cards for Students 2020
      • Best Airline Credit Card 2020
      • Best Gas Rewards Credit Cards of 2020
      • Best hotel credit cards for 2020
      • Best Cash Back Credit Cards 2020
      • Best Travel Credit Card 2020
      • Best No Annual Fee Credit Cards 2020
      • Best Secured Credit Cards 2020
      • Best Credit Cards for Bad Credit 2020
      • Best Rewards Credit Card 2020
      • Best 0% APR Credit Cards of February 2020
      • The Best Credit Card for Balance Transfers 2020
      • Best Buy Credit Card 2020
      • Best Credit Cards of July 2020
      • 11 Best Prepaid Debit Cards of 2020
      • Best Business Credit Cards 2020
    • Cards
      • American Express
      • Lowe’s Credit Card
      • Get Revolut Card + £50
      • Qantas Credit Card
      • Chase Credit Card
      • Coles Mastercard
      • Capital One
      • Home Depot Credit Card
    • Credit Cards Guides
      • How many credit cards should I have?
      • Is Discover Visa or Mastercard?
    • Credit Cards Reviews
      • First Premier Credit Card Review
      • Fortiva Credit Card Review
      • Indigo Credit Card Review
      • Wells Fargo Propel – Review
      • Walmart Money Card – Review
      • Credit One Credit Card Review
      • Discover it® Cash Back – Review
      • Travel credit card reviews 2020
      • Petal Credit Card Review
      • Apple Credit Card Review
      • Capital One Venture Rewards Credit Card Review
      • Amazon Credit Card Review
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      • Joe Biden
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      • Scott Morrison
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  • Mortgages
    • Mortgage “Best of…”
      • Best Mortgage for Low Down Payment 2020
      • Best Mortgage Rates
      • Best VA Mortgage Lenders of 2020
      • Greatest On-line Mortgage Lenders
      • The Best Mortgage Lenders for First Time Home Buyers
    • Mortgage Calculators
      • Mortgage calculator rates today April 1, 2020
      • Mortgage Calculator – Students Benefits
      • Mortgage Calculator – Homeowners and renters Get Payment Relief
      • Calculator for mortgage to millennials
      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
      • Mortgage Calculator Home – Is it time to repair your own home mortgage?
      • Mortgage Calculator
      • Mortgage Calculator Rates Today April 3
      • Mortgage Calculator Online
      • Mortgage Calculator Coronavirus: UK mortgage market goes into lockdown
    • Mortgage Guides
      • Lending
      • How Mortgage Forbearance Works Under CARES Act
      • Stimulus Check
    • Mortgage Companies
      • Nationstar Mortgage
      • Roundpoint Mortgage
      • Midland Mortgage
      • Simple Mortgage Calculator
      • Freedom Mortgage
      • SunTrust Mortgage
  • Commodities
    • Energy
      • WTI Oil Prices
      • Brent Crude
      • Crude Oil
    • Agricultural Products
      • Corns
    • Livestock & Meat
      • Lean Hogs
    • Precious Metals
      • Platinum
      • Gold
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Bankof America – Hiring may have rebounded from 1st monthly loss since April

Yuuma Nakamura by Yuuma Nakamura
February 5, 2021
in Bank of America (NYSE: BAC)
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Home » Bankof America – Hiring may have rebounded from 1st monthly loss since April

Bankof America – Hiring may have rebounded from 1st monthly loss since April

WASHINGTON — The U.S. jobs report for January being released Friday is expected to show a slight rebound after six straight months of weaker hiring. But any gain might have resulted mainly from a technical adjustment and would make little dent in the vast unemployment caused by the pandemic recession.

Economists have forecast that employers added 100,000 jobs last month, according to data provider FactSet. That would mark a welcome reversal from a loss in December — the first since April — of 140,000. Still, a gain of that modest size is practically negligible when the economy is nearly 10 million jobs short of its pre-pandemic level.

The unemployment rate is projected to remain stuck at 6.7% for a third straight month, almost twice its pre-pandemic level.

The tepid employment figures reflect a weak job market, slowed by a still-widespread viral pandemic that is causing consumers to avoid traveling, shopping, dining out, attending entertainment venues and engaging in other forms of face-to-face contact. At the same time, many states and localities re-imposed restrictions on businesses as cases spiked in December. Some of those restrictions were loosened last month, though not necessarily in time to affect the jobs report, which measures employment in the middle of each month.

As hiring has slowed, many employers have continued to lay off workers. The number of applications for unemployment benefits, though declining for the past few weeks, remained at an elevated 779,000 last week.

Those trends are fueling President Joe Biden‘s push for a $1.9 trillion stimulus package, which would provide $1,400 checks for most U.S. individuals and a $400 weekly unemployment payment on top of state benefits. It would also extend two federal jobless aid programs, from mid-March through September.

The reason why a gain in the January jobs report might be viewed skeptically is that it would likely be exaggerated by the government’s seasonal adjustment process. The government uses seasonal adjustments to try to filter out the impact of short-term changes that don’t reflect underlying economic trends.

One example involves the annual layoffs of temporary retail employees who were hired for the holiday shopping season. Retail stores, along with restaurants, bars and hotels, typically hire extra staff for the holiday season and then let them go in January. The government’s seasonal adjustments factor in this annual pattern to avoid showing a huge job gain before the holiday season and then a huge loss afterward.

This year, though, holiday hiring was likely much weaker because of the pandemic. As a result, layoffs in January probably weren’t as large as they typically are. As a result, the seasonal adjustment process might have exaggerated any hiring gain last month.

January is also the month when the Labor Department incorporates new Census estimates of the U.S. population. That could cause fluctuations in the unemployment rate.

“It’s going to be a wild month,” said Gregory Daco, chief U.S. economist at Oxford Economics.

Some hopeful signs have emerged recently to suggest that the economy might be picking up a bit. Auto sales rose solidly in January. And a gauge of business growth in the service sector picked up to its highest level in two years. It also showed that services firms added workers last month. A separate measure of manufacturing indicated that factories are also expanding. So is spending on home construction.

Economists increasingly suggest that as vaccinations reach a critical mass in the coming months and the government provides further stimulus, the economy and the job market will strengthen much faster than they did after previous recessions.

The damage to the job market since March has widened financial inequality in the United States, especially hurting women and people of color. At the same time, Americans fortunate enough to have kept their jobs have amassed $2.3 trillion in savings — double the pre-pandemic total. That enlarged pool of savings could fuel a rapid rebound in spending as business restrictions are lifted and more Americans become more confident about shopping, dining out and traveling.

Bank of America estimates that growth could reach 6% this year, which would be the fastest since 1984. Monthly job gains could approach 1 million, on average, by the summer, Daco said.

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Yuuma Nakamura is a staff writer covering crypto, blockchain, finance and other technology for FintechZoom. Contact: yuuma.nakamura@fintechzoom.com

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