Contact Us
News

'Decelerating': Economists React To The August Jobs Report On Twitter

National Economy

Total nonfarm payroll employment rose by 1.4 million jobs in August, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell to 8.4%.

The news caused stocks to fall in pre-market trading, Bloomberg's Lisa Abramowicz reported, tweeting that the better-than-expected unemployment rate would remove "some pressure for another round of fiscal support." To date, roughly half of the 22 million jobs lost during the pandemic have returned. 

Placeholder

Employment in the retail trade sector grew by 249,000 jobs in August, and leisure and hospitality added 174,000 jobs. The leisure and hospitality sector is still down 4.1 million jobs since February.

The construction industry added 16,000 jobs in August. Employment in the construction industry is still 425,000 jobs lower than it was in February.

Here's how economists and others reacted to the jobs report on Twitter.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Related Topics: Jobs Report, August jobs report