WASHINGTON, D.C. (NEXSTAR) — The job market is bracing for impact from the coronavirus.
“We know there is going to be some effect on some companies,” Secretary of Labor Eugene Scalia said Friday.
Scalia said thanks to a strong February jobs report… “We know we’re heading into this from a very strong footing.”
The economy added 273,000 new jobs last month. But the numbers were collected before the coronavirus outbreak in the U-S.
“It will certainly have a difference on the next jobs report,” Neil Bradley, U.S. Chamber of Commerce.
Neil Bradley with the US Chamber of Commerce said they already are seeing an impact on travel and tourism.
But Main Street America is doing just fine.
“Small businesses feel like they’re well prepared to deal with this virus. They’re not seeing any adverse impacts yet and they don’t expect to,” Bradley added.
And the National Small Business Association is getting updates from businesses across the country and sharing that information with lawmakers on Capitol Hill.
On Friday President Trump signed an $8.3 billion spending bill to contain the virus. He said the coronavirus will help and not hurt the economy.
“We’re going to have Americans staying home instead of going to spend their money on other countries and maybe that’s one of the reasons the job numbers are so good,” President Trump said.
The Labor Department said they’re watching the virus to see what additional measures they can put in place to protect American businesses and avoid layoffs.