“Decidedly solid” US August jobs report

04 September 2020

 

Summary: August non-farm payrolls increase by over 1 million; jobless rate down considerably even as participation rate increases; government jobs rise but private sector accounts for bulk of gain; employment-to-population ratio up for fourth consecutive month; underemployment rate down again but still in mid-teens.   The US economy ceased producing jobs in net terms as infection controls began to be implemented in March. The unemployment rate had been around 3.5%...

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