Jobs Report Fails to Meet Expectations, Stoking Fears That Recovery May Stall.
On September 3, the Labor Department reported
that job creation for August fell short,
with the economy adding only 235,000 positions.
On September 3, the Labor Department reported
that job creation for August fell short,
with the economy adding only 235,000 positions.
Economists surveyed by Dow Jones had
estimated there would be 720,000 new hires.
August’s total has stoked fears that rising numbers of
COVID-19 cases could stall the country's economic recovery.
The report could also cloud policy for the
Federal Reserve, which bases some of its actions on it. .
The report could also cloud policy for the
Federal Reserve, which bases some of its actions on it. .
The labor market recovery hit
the brakes this month with a dramatic showdown in all industries. Ultimately, the Delta variant wave is a harsh reminder that the pandemic is still in the driver’s seat, and it controls our economic future, Daniel Zhao, senior economist at jobs site Glassdoor, via CNBC.
The labor market recovery hit
the brakes this month with a dramatic showdown in all industries. Ultimately, the Delta variant wave is a harsh reminder that the pandemic is still in the driver’s seat, and it controls our economic future, Daniel Zhao, senior economist at jobs site Glassdoor, via CNBC.
The unemployment rate in the leisure
and hospitality industry climbed to 9.1%.
The unemployment rate in the leisure
and hospitality industry climbed to 9.1%.
Retail lost 29,000 jobs, and food and beverage stores saw a decrease of 23,000 positions.
Retail lost 29,000 jobs, and food and beverage stores saw a decrease of 23,000 positions.
The U.S. has seen about 150,000 new COVID-19 cases, adding to concerns that the recovery could slow.
The month saw an increase in those who could
not work for pandemic-related reasons, with
the total rising to 5.6 million