Unemployment drops to 8.4% but US job growth slowed in August


WASHINGTON (AP)

The U.S. unemployment rate fell sharply in August to 8.4% from 10.2% even as hiring slowed, with employers adding the fewest jobs since the pandemic began.

Employers added 1.4 million jobs, the Labor Department said, down from 1.7 million in July. The U.S. economy has recovered about half the 22 million jobs lost to the pandemic.

Friday’s report added to evidence that nearly six months after the coronavirus paralyzed the country, the economy is mounting only a fitful recovery. From small businesses to hotels, restaurants, airlines and entertainment venues, a wide spectrum of companies are struggling to survive the loss of customers with confirmed viral cases still high.

After an epic collapse in the spring, when the economy shrank at a roughly 30% annual rate, growth has been rebounding as states have reopened at least parts of their economies. Yet the recovery remains far from complete.

Many

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Australia Unemployment Drops as Half of Jobs Lost Recovered

(Bloomberg) — Australian unemployment unexpectedly fell as fiscal and monetary stimulus helped the labor market withstand Victoria’s renewed lockdown, with more than half of the jobs lost from the pandemic now recovered.

The jobless rate dropped to 6.8% in August from 7.5% a month earlier versus a median estimate of an increase to 7.7%, data from the statistics bureau showed Thursday in Sydney. Employment surged by 111,000 in August, with all states and territories outside of Victoria gaining, and completely wrong-footing analyst estimates of 35,000 drop.

The data’s strength was surprising because the period spanned Melbourne’s shift to Stage 4 restrictions and a curfew to contain a rapidly spreading outbreak, as well as nervousness in neighboring New South Wales that it was headed down the same path. The labor market’s ability to absorb this weakness and maintain its recovery is testament to the government’s signature JobKeeper employment subsidy — that

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Enrollment drops in school district that includes Las Vegas

LAS VEGAS (AP) — Enrollment in the Clark County School District, which includes Las Vegas, has declined by more than 10,000 students during the start of the fall semester online.

Data show there are 307,210 students enrolled for this 2020 academic year compared to 317,893 students enrolled for the 2019 academic year, showing a drop of more than 10,600 students.

The figures show the third straight decline in enrollment since the district reached more than 321,000 students in 2017.

District officials had anticipated about 316,000 students this year, and depending on enrollment at each school, budget cuts are now expected. Each student brings in $6,100 in funding to the district, officials said.

“There’s funding tied to that count number. How it impacts my child in the classroom? Frequently it means larger class sizes,” Nevada Parent Teacher Association President Rebecca Dirks Garcia told KVVU-TV. “You may see changes in your

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Funds spent by the skills development ministry on flagship skilling programme drops by over 13%

Funds spent by the skills development ministry on its flagship skilling programme has dropped by over 13% in 2019-20 compared to the previous fiscal, the lowest in last three years, shows data from the skills ministry.

The government had spent Rs 1648.25 crore for skilling youth under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2.0) compared to Rs 1909.19 spent in the previous fiscal, RK Singh, minister of state for skills development said in a written reply in the Lok Sabha. The money spent under the scheme in 2017-18 stood at Rs 1721.18. Under PMKVY 2.0, as on 94.17 lakhs candidates have been trained or oriented until April 1, 2020.

Under the Skill India mission, the ministry of skill development and entrepreneurship imparts employable skills to the youth through long term and short term training.While the Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2.0) and Jan Shikshan Sansthan (JSS) is being

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Hillsborough drops school reopening plan under state pressure

TAMPA — Hillsborough County school officials were up against a deadline.

State officials had instructed them to revise their reopening plan, or lose millions in funding. The School Board’s vote to start the year with four weeks of virtual lessons to lessen the chance of coronavirus infections didn’t meet state expectations. Plus thousands of teachers and more than 200,000 students were in limbo.

So on Thursday, superintendent Addison Davis announced a new timetable: The school year will begin Aug. 24 with all-virtual instruction. Then, for those who choose it, in-person school will begin a week later.

“Everyone has been frustrated, let’s just be very clear,” Davis said at a news conference after explaining some of the mechanics of the new arrangement. But, he added, “we’re here for children and we’re also here to protect the working conditions of adults.”

The decision ends weeks of uncertainty, as some in the community

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U.S. regains 1.4 million jobs in August and unemployment drops to 8.4% as economic recovery shows resilience

ECONOMIC REPORT



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The numbers: The U.S. regained 1.4 million jobs in August and the unemployment rate posted a surprisingly large drop to 8.4%, suggesting an economic recovery is still plowing ahead even if the pace of growth has slowed since the start of the summer.

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The increase in hiring last month exceeded Wall Street’s forecast. Economists polled by MarketWatch had forecast a 1.2 million gain. U.S. stocks fell in Friday trades.

The employment picture was a bit softer after stripping out the hiring of 238,000 temporary Census workers and those who work in public education.

Private-sector hiring rose by 1 million, down from 1.48 million in July, the government said Friday.

The most positive news was a big reduction in the official jobless rate to 8.4% from 10.2%, marking the fourth straight decline from a pandemic peak of 14.7%. A separate survey of households showed a much larger

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