The August jobs numbers are out and it’s a bit of a good news/bad news situation.
The good news is that the economy added 1.4M jobs despite ever-present COVID-19 outbreaks. This gain brought the unemployment rate down from 10.2% in July to 8.4% in August.
The bad news is that August is now the second straight month showing a slowdown in hiring. This slowdown has economists worried since the economy has recouped less than half of the 22 million jobs that were wiped out this Spring.