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business Saturday 7 November 2020
Hiring held last month but signs of caution as virus worsens

By CHRISTOPHER RUGABER rolling average for new
AP Economics Writer cases, hitting nearly 90,000.
WASHINGTON (AP) — Defy- Daily new cases were also
ing fears of another slow- on track for another day
down, U.S. businesses kept above 100,000, with surg-
hiring at a solid pace in ing numbers reported all
October yet there are signs around the country, includ-
they remain cautious about ing a combined nearly
the economy's future as 25,000 in Texas, Illinois and
the pandemic worsens. Florida.
The Labor Department said The nation still has 10.1 mil-
Friday that employers add- lion fewer jobs than it did
ed 638,000 jobs and the un- before the viral outbreak
employment rate tumbled intensified in March. At
a full percentage point to the current pace of hiring,
6.9%, extending what has it would take until Febru-
been a faster recovery ary 2022 to regain all those
than many economists ex- jobs. Still, that would be
pected in the spring. faster than the 2008-2009
But the pace of hiring isn't Great Recession, when it
robust enough to rap- took more than five years
idly soak up the millions to recover the jobs lost.
of Americans who were The gradual recovery of the
thrown out of work by the job market has affected
pandemic recession. In this Sept. 2, 2020 file photo, a customer wears a face mask as they carry their order past a now Americans in uneven ways
The job gains were little hiring sign at an eatery in Richardson, Texas. and widened inequalities.
changed from September's Associated Press Lower-paid workers in in-
672,000 and less than half dustries like restaurants, ho-
August's 1.5 million. But the job search website. "But we customers but aren't sure had been able to serve tels, and health care have
increase was stronger than all need to keep in mind how long it will last and are more customers outdoors. seen their jobs and incomes
it appears: It was held down the huge hole that we're in, reluctant to make perma- But the prospects for more recover much more slowly
by the loss of about 150,000 in terms of jobs and unem- nent job offers. The length stimulus have been scram- than white-collar workers
temporary Census jobs. Ex- ployment." of the average work week bled by the election, which who have largely worked
cluding governments at all Hiring rose in retail, includ- also rose, evidence that appears likely to result in from home. Many of them
levels, private businesses ing in online retail, where employers pushed their a victory for Democratic have also benefited from a
added a healthy 906,000 many Americans have current staff to work more candidate Joe Biden, while surge in home equity and
jobs. That figure has held turned during the viral out- rather than take on new possibly preserving a Re- from the Federal Reserve's
steady for three months. break. Warehousing and workers. publican majority in the ultra-low-rate policies,
Overall, the latest jobs re- courier services have both Federal Reserve Chair Je- Senate. That could mean which have fueled gains in
port suggests the tentative added jobs in every month rome Powell and many any additional aid will be the stock market.
recovery remains intact, for since the pandemic, in- Wall Street economists postponed until at least Women have been more
now, and that the econo- cluding last month. have urged Congress to next year. likely to leave the workforce
my is continuing to adapt In a sign of the uncertainty approve more government The job market and the than men since the pan-
to the pandemic. clouding the economy as aid to support families and overall economy remain demic began, particularly
"It was a pleasant surprise the virus surges, compa- businesses, particularly as under intensified pressure since school started, with
to see that the pace of nies also added more than the pandemic rages and from the accelerating many schools operating
the recovery hasn't slowed 100,000 temporary work- colder weather threatens pandemic. On Thursday, only online. That has forced
down," said Nick Bunker, an ers. That suggests they are recent hiring gains among the nation broke another many working mothers to
economist at Indeed, the seeing more demand from restaurants and bars, which record in the seven-day quit jobs.q
Walmart agrees to sell its business in Argentina

by ANNE D'INNOCENZIO and 9,000 workers under kets over the past 15 years
AP Retail Writer the brands Changomas, Mi including Germany and
NEW YORK (AP) — Walmart Changomas, Walmart Su- South Korea. In many cas-
will sell its business in Ar- percenter and Punto May- es, it has lacked the scale
gentina as it continues to orista. The Changomas, Mi to press local suppliers on
restructure its international Changomas, and Punto price as it does in the United
division. Mayorista signs will remain States. In October, Walmart
Walmart will continue to on the stores, but Walmart said it was selling its British
support the business transi- Supercenters will be re- supermarket chain Asda
tion services and sourcing named. for 6.8 billion pounds ($8.8
agreements under Grupo Walmart operates stores in billion). Walmart is retaining
de Narvaez, the company 27 countries under various a minority stake and a seat
that is acquiring it, but it will names and has taken some of the board at Asda.
not retain an equity stake. lumps as it has attempted In 2018, Walmart Inc. sold
Walmart Argentina began to export its low-price strat- an 80% stake in its Brazilian
operations in 1995 with a egy overseas. The Benton- operations to a global pri- A woman pushes a shopping cart to enter a Walmart in Rolling
single shop in Buenos Ai- ville, Arkansas, retailer has vate equity firm. Walmart Meadows, Ill., Thursday, Nov. 5, 2020.
res. It has since expanded given up on operations in gave up in Germany and Associated Press
to more than 90 locations several international mar- South Korea in 2006.q