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The Employment Situation-- August 2020
Total nonfarm payroll employment rose by 1.4 million in August, and the unemployment rate fell to 8.4 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In August, an increase in government employment largely reflected temporary hiring for the 2020 Census. Notable job gains also occurred in retail trade, in professional and business services, in leisure and hospitality, and in education and health services. This news ... (full story)
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U.S. created 1.37 million jobs in August, vs 1.32 million expected; unemployment rate falls to 8.4%
Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department figures released Friday. Economists surveyed by Dow Jones had been expecting growth of 1.32 million and the jobless rate to decline to 9.8% from 10.2% in July. The report comes amid a raft of mostly positive economic signals, with retail sales, real estate and manufacturing showing sharp rebounds off their coronavirus lows. Still, ... (full story)
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