Trusted Professional

Economy Has Recovered Slightly More Than Half the Jobs Lost at Start of Pandemic

The federal government reported that the country gained 661,000 jobs in September, meaning the country has recovered 11.4 million of the 22 million jobs lost in March in April, said the Wall Street Journal. However, the pace has been cooling, and this marks the first report since then that net job growth was under 1 million. Some of the strongest gains were in areas that have been hard hit by the pandemic, such as leisure and hospitality, while the biggest losses were in government jobs, particularly in education. Overall, said the Journal, current figures put the country's economy more in line with a typical recession, when things are merely bad, versus the near-apocalyptic conditions at the pandemic's start.

Accounting Today noted that 2,200 of those jobs were in accounting and bookkeeping.