1.4 million U.S. jobs were added in August, and the unemployment rate dropped to 8.4{7d6bb1f761e691f027164c9fe6d1ebbc4659a250013ce39dc45a15ede39dbac5}

Helen Dunmore
Read Time1 Minute, 49 Second

1.4 million U.S. jobs were added in August

After the stock market experienced its worst day since June 11. It fell more than 800 points on Thursday, and there were concerns that there were not many employment reports in August.

On Friday, the Bureau of Labor Statistics reported some better-than-expected news. The United States added nearly 1.4 million jobs in August.

The devastated staff have been transferred back to the country. Although the level is lower than what we saw in the spring. 1.4 million jobs are an upward surprise for experts. But they are still below the 1.7 million in July and the 4.8 million new jobs added in June.

 Compared with before the pandemic, we still have about 11 million fewer jobs. On the positive side, the unemployment rate dropped from a high of nearly 15{7d6bb1f761e691f027164c9fe6d1ebbc4659a250013ce39dc45a15ede39dbac5} in April to about 8.4{7d6bb1f761e691f027164c9fe6d1ebbc4659a250013ce39dc45a15ede39dbac5} in August. Unfortunately, we are still far from the 3{7d6bb1f761e691f027164c9fe6d1ebbc4659a250013ce39dc45a15ede39dbac5} unemployment rate before Covid-19.

These figures reflect the lowest number of recruits since May.

 During the pandemic, the United States lost 22 million jobs, nearly half of which made up for this loss. Vice President Mike Pence said: “This is another beautiful day for American jobs and American workers.” He believes the reported figures are “real evidence that the United States is making a comeback.”

A large part of the new job is related to the company’s transfer of workers, rather than hiring new people.

What remains worrying is that many temporary layoffs will become permanent job losses. Lydia Boussour, an economist at the Oxford Institute for Economic Research, pointed out: “Employment is trending towards a slow, slow growth trend, which is concerned about the broader recovery.” According to Boussour, these data “Verifies that the labor market has entered a frustratingly slow second phase of recovery.”

The worst-hit departments were a little angry.

The severely affected retail, restaurants, bars, leisure and hospitality industries have grown. There are gains in education, health services, financial services, transportation and manufacturing.

Although the employment report is relatively optimistic, we still have a long way to go.

Latest News

About Post Author

Helen Dunmore

Hey, I'm Helen Dunmore an article writer from London Ontario, Canada. I had done a master's in mass communication and M.Phill in political science and attended many College Journalism Broadcast programs where I wrote and won. I previously had attended Humber College for media studies which included writing for television and news. I have written several publications for many news related websites. Have experience more than 7 years, yeah quite a lot for you. I love writing, an expert in article writing. Currently doing article writing for many blog posts and work as an author for many web sites. Reading is my hobby, love books more than anything in my life.

Leave a Reply

Your email address will not be published.

error: Content is protected !!