US economy beats forecasts, adds 1.37 million jobs in August as unemployment tumbles to 8.4%
The US unemployment rate came in at 8.4%, the BLS said, far lower than the 10.2% expected by economists. April's 14.7% reading was the highest since the Great Depression of the 1930s.
Americans have been waiting for further signs that the government will provide additional stimulus to aid the economic recovery and workers who have been laid off due to the virus. So far, Democrats and Republicans remain deadlocked in negotiations. In August, President Donald Trump signed an executive order extending an extra $300 per week in federal benefits with the option for states to provide an additional $100. While the program has been approved in 40 states, it may last only a few weeks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US adds 1.4 million jobs in August, but is still down 11.5 million jobs since Covid hitJUST IN: In line with expectations, another 1.4 million jobs were added to the US economy in August as the jobs recovery continued to slow. America is still down 11.5 million jobs from February.
Read more »
August jobs report likely to point to a still-slow recoveryWASHINGTON (AP) — The United States keeps regaining more of the jobs that vanished when the viral pandemic flattened the economy early this spring. Yet so deep were the layoffs that began in March...
Read more »
Job market seen somewhat weaker in August, as rehiring slowed and layoffs continuedThe pace of rehiring is expected to have slowed in August, and the economy likely added fewer jobs than in July as layoffs continue.
Read more »
U.S. job growth seen slowing in August, unemployment rate falling below 10%U.S. job growth likely slowed further in August as financial assistance from the government ran out, threatening the economy's recovery from the COVID-19 recession.
Read more »
Jobless claims fall to 881,000 but layoffs remain elevatedThe latest unemployment figures suggest the economy is still struggling to recover and rebuild a job market devastated by the coronavirus.
Read more »
Unemployment Likely Declined in August as Hiring ContinuedHiring likely eased last month from a faster pace earlier this summer, a sign the U.S. economy is settling in for a slow recovery following the coronavirus pandemic.
Read more »