JUST IN: U.S. economy added 235,000 jobs in August, while the unemployment rate fell to 5.2% from 5.4%, offering a snapshot of how the delta variant is impacting economic growth.
Thomas A. Ferrara / Newsday via Getty Images fileThe U.S. economy added just 235,000 jobs in August, compared to the 720,000 expected by economists, while the unemployment rate fell to 5.2 percent from 5.4 percent, offering a snapshot of how the delta variant of the coronavirus is dragging down economic growth.
While the data-gathering for the monthly jobs report took place too early to capture the impact of Hurricane Ida, labor experts are bracing for a wave of economic displacement that could have ripple effects on an already-distorted labor market. “Housing affordability following a disaster is a growing challenge to ending internal displacement,” a 2019If there is nowhere to live, there is no way for workers to return to their jobs and — for some types of businesses — none of the customer traffic that would generate the consumer activity needed for a robust economic recovery.
“We’ve had a high number of people come to us in need of clothing, food, shelter, transportation or gas,” she said. “A lot of people that evacuated here didn't have a lot of resources with them.”
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