Unemployment falls to 8.4 percent as employers add 1.4 million jobs 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.



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

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Friday’s report from the Labor Department 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

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U.S. economy gained 1.4 million jobs last month, unemployment rate falls to 8.4 percent

The economy added around 1.4 million jobs last month, reflecting a slow return to labor market growth, according to data released on Friday by the Bureau of Labor Statistics.





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The unemployment rate fell into the single digits for the first time since the pandemic began, dropping from 10.2 percent to 8.4 percent, the monthly report showed. Before the coronavirus’ stranglehold on the economy, the rate was at 3.5 percent, the lowest in five decades.

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The August data indicates a halting recovery of the more than 22 million jobs lost since March, with July’s revised total of 1.73 million gains and June’s addition of 4.8 million positions.

“We have had three huge months of job gains, but so far have regained less than half of the losses in March and April,” said Dan North, senior economist at Euler Hermes North America. “Job gains so

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