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August jobs report: US economy adds 1.37 million jobs, unemployment 8.4% - Business Insider

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US economy beats forecasts, adds 1.37 million jobs in August as unemployment tumbles to 8.4%

The US unemployment rate came in at 8.4%, the BLS said, far lower than the 10.2% expected by economists. April's 14.7% reading was the highest since the Great Depression of the 1930s.

Americans have been waiting for further signs that the government will provide additional stimulus to aid the economic recovery and workers who have been laid off due to the virus. So far, Democrats and Republicans remain deadlocked in negotiations. In August, President Donald Trump signed an executive order extending an extra $300 per week in federal benefits with the option for states to provide an additional $100. While the program has been approved in 40 states, it may last only a few weeks.

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Still too high. 8.4% is high unemployment rate.

BOOM !!!!

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Job market seen somewhat weaker in August, as rehiring slowed and layoffs continuedThe pace of rehiring is expected to have slowed in August, and the economy likely added fewer jobs than in July as layoffs continue.
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