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The Employment Situation -- August 2021
Total nonfarm payroll employment rose by 235,000 in August, and the unemployment rate declined by 0.2 percentage point to 5.2 percent, the U.S. Bureau of Labor Statistics reported today. So far this year, monthly job growth has averaged 586,000. In August, notable job gains occurred in professional and business services, transportation and warehousing, private education, manufacturing, and other services. Employment in retail trade declined over the month. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic ... (full story)
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August nonfarm payrolls increase 235,000 vs. 720,000 estimate
Job creation for August was a huge disappointment, with the economy adding just 235,000 positions, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for 720,000 new hires. The unemployment rate dropped to 5.2% from 5.4%, in line with estimates. August’s total was the worst since January and comes with heightened fears of the pandemic and the impact that rising Covid cases could have on what has been so far a mostly robust recovery. Weekly jobless filings have fallen to their lowest levels since the early days of the pandemic in March 2020, but a large employment gap remains. ... (full story)
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