September 4, 2020 at 9:25 AM EDT
Trump touts report displaying drop in unemployment fee
Trump on Friday touted a report displaying the U.S. economic system added 1.Four million jobs in August, sending the unemployment fee beneath 10 p.c for the primary time because the pandemic started.
“Nice Jobs Numbers!” Trump tweeted. “1.37 Million Jobs Added In August. Unemployment Fee Falls To eight.4% (Wow, significantly better than anticipated!). Broke the 10% stage sooner and deeper than thought attainable.”
The job progress was consistent with most analysts’ expectations, because the economic system has proven indicators of rebounding from the financial carnage left by closures aimed to stem the unfold of the novel coronavirus.
The job positive aspects had been pushed by hiring in authorities, notably momentary Census staff, who accounted for 238,000 new jobs — greater than 1 out of 6 for each job added. Different sectors which were arduous hit by the pandemic confirmed indicators of progress, together with retail, which added 249,000 positions; leisure and hospitality, which added 174,000 jobs, primarily in eating places, bars and different meals institutions; and schooling and well being providers, which gained 147,000 jobs.
Biden plans to ship remarks Friday in Delaware on the financial fallout from the pandemic.
By John Wagner and Eli Rosenberg