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The U.S. economy shed 140,000 jobs in December, the first decline in seven months as a surge in COVID-19 cases nationwide triggered a fresh wave of shutdowns, reversing the labor market’s recovery. The unemployment rate held steady at 6.7%, the Labor Department said in its monthly payroll report, released Friday.
“We are one nation,” Moore went on to say. “But when you have two of the largest economies in the world – California and New York — virtually shut down, how are you going to get the job growth?”
He added that red states have lower unemployment rates than blue states do.
However, Jon Hilsenrath of The Wall Street Journal, who was also part of the conversation, believes the resurgence of the coronavirus in the U.S. is behind December’s job market contraction.
“We had chances to get this thing under control. We blew it,” he said. “We had a resurgent job market and it’s contracting. This is another tragedy that’s hitting this country.”
Both Moore and Hilsenrath agreed that it’s essential for America to get the virus under control.
“The vaccine is the ultimate stimulus for the economy,” Moore said. “No question about that.”
FOX Business’ Megan Henney contributed to this article.