Progress.
Thus far, warnings of collapse in the jobs market due to the end of government supports have failed to come true. In August, the US economy added 1.4 million jobs and the unemployment rate dropped from 10.2% to 8.4%. The numbers of unemployed people in the short- and mid-term dropped substantially, while furloughs decreased massively. The latter might not be an entirely positive signal, however: 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.… In August, the unemployment rate declined by 1.
