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The economy still has a mountain to climb, but it’s digging itself out faster than expected


Is the economy half-full or half-empty? That’s the burning question after a surprisingly upbeat U.S. jobs report for August.

Read: U.S. regains 1.4 million jobs in August and unemployment drops to 8.4%

The expiration of federal aid for the unemployed at the end of the July and the still-spreading coronvirus were supposed to put a big dent in the economy last month. But so far the evidence is thin.

To be sure, the pace of the recovery has decelerated. The U.S. is regaining jobs at a slower pace several months after the economy reopened, consumer spending has softened and businesses are still hesitant to invest.

Read: Economy softened in…


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