Whiff: Big Jobs Miss in August, Just 142K Added
On Friday, the Labor Department reported that the economy gained just 142,000 jobs in August. The number was a big disappointment, as economists had been expecting a gain of around 230,000. The unemployment rate for the month was unchanged at 6.1%.
Friday's report snaps a 6-month streak of monthly job gains above 200k. It should also put to rest any belief that the economy is finally posed for an economic "breakout" after a very slow first quarter of the year.
Not Spectacular: US Jobs Up 192K In March
U.S.
employers added jobs at a solid pace in March and hired more in January
and February than previously thought. Friday's government report sent a
reassuring signal that the economy withstood a harsh winter that...
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