US Adds 1.4M Jobs In August, Unemployment Falls To 8.4 Pct
Job growth slowed further in August in the United States as financial assistance from the government ran out, threatening the economy's recovery from the COVID-19 recession.
Nonfarm payrolls increased by 1.371 million jobs last month after advancing 1.734 million in July, the Labor Department's closely watched employment report showed on Friday.
The unemployment rate fell to 8.4 percent from 10.2 percent in July. Economists polled by Reuters news agency had forecast 1.4 million additional jobs in August and the unemployment rate sliding to 8.4 percent.
Companies from transport to manufacturing industries have been announcing layoffs or furloughs, putting pressure on the White House and Congress to restart stalled negotiations for another fiscal package. With just two mo...