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