Economy

Jobs report August 2021 shocker: Only 235,000 new jobs

0


Job creation for August was a huge disappointment, with the economy adding just 235,000 positions, the Labor Department reported Friday.

Economists surveyed by Dow Jones had been looking for 720,000 new hires.

The unemployment rate dropped to 5.2% from 5.4%, in line with estimates.

August’s total — the worst since January — comes with heightened fears of the pandemic and the impact that rising Covid cases could have on what has been a mostly robust recovery. The weak report could cloud policy for the Federal Reserve, which is weighing whether to pull back on some of the massive stimulus it has been adding since the outbreak in early 2020.

“The labor market recovery hit the brakes this…



Source cnbc.com

0 0 votes
Article Rating

Bitcoin miners, oil and gas execs talk about natural gas mining

Previous article

Here’s where the jobs are for August 2021 — in one chart

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Economy