Disappointing results from the US labour market

The disappointing results from the US labour market along with the rising cases of COVD-19 is fueling hopes by investors of a stimulus package before the year ends. Last week, the Nonfarm Payrolls report only added 245,000 jobs for the month of November, a 60% decline from the prior month’s 610,000 results. Meanwhile, on Thursday, December 10, the initial jobless claims report recorded 853,000 claimants of unemployment benefits, the highest since September. The weak labour market corresponds to the rise of coronavirus cases in the United States, which has now a total of 15.7 million. The US had its highest single-day increase in infections on Friday, December 04, at 231,181 while there were 3,157 deaths on Wednesday, December 09. On the other hand, the United Kingdom has also disappointing records from its recent reports and from COVID-19 infections. In addition to this, the country faces the looming Brexit transition deadline by 2021.