The U.S. economy added just over 230,000 jobs during the month of August, the Labor Department announced Friday in its monthly jobs report — way off the mark that most experts were expecting.
The department said jobs increased by 235,000 for the month. Most economists predicted the report would show between 700,000 and 720,000 new jobs.
“In August, notable job gains occurred in professional and business services, transportation and warehousing, private education, manufacturing, and other services,” the department said in a statement. “Employment in retail trade declined over the month.”
Friday’s report also showed that the national unemployment rate declined by 0.2% to 5.2%.
“The number of unemployed persons edged down to 8.4 million, following a large decrease in July,” the department noted. “Both measures are down considerably from their highs at the end of the February-April 2020 recession. However, they remain above their levels prior to the coronavirus pandemic.
“The number of long-term unemployed (those jobless for 27 weeks or more) decreased by 246,000 in August to 3.2 million but is 2.1 million higher than in February 2020. These long-term unemployed accounted for 37.4% of the total unemployed in August.”
The figure for August was substantially lower than the job gains for July, which numbered nearly 1 million. In June, 850,000 jobs were added to the economy.
The department noted in its report that there have been 17 million jobs added since April 2020, but the total number remains 5.3 million jobs away from its pre-pandemic level in February 2020.
The largest gains in August were seen in professional and business services (74,000), transportation and warehousing (53,000), private education (40,000) and manufacturing (37,000).
ADP and Moody’s Analytics reported on Wednesday that the domestic economy added 374,000 private jobs during August.
President Joe Biden was scheduled to speak about the Labor Department’s jobs report at 10 a.m. EDT.
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The real miss in expectations is Biden’s personal job performance. As positions of eminence and prestige go in the world, he is the holder of what should be the highest honor. He is not the legitimate title-holder—he stole the King’s Crown and assumed the throne through deceptive means. He rules by decree and sleight-of-hand, reveling in the despair and hardship he is waging upon the country.
He is a charlatan—a jester in a political three-ring circus that delights in feeding the populace to the lions of hatred, corruption, and division. He is a snake in the grass who hisses and spits at what is right and poisons his victims with his diabolical schemes and treachery.
He hates the country he is supposed to be leading—which happens to be the greatest ever—and he loathes the people in it, save for illegal immigrants and domestic terrorist groups. He is a peddler of propaganda and double-speak—he smiles in your face while he lies through his teeth.
He is a pawn of both Barack Obama and Satan. He is inherently evil as he leads his Congressional corps of demons to sabotage our principles and values and to instill Liberal policies that will erode our country.
Well said, Biden does not have the brains to think anymore, the brains have turned to pudding. His puppet masters are still pure evil.
With lockdown after lockdown, mandate after mandate, i am shocked it wasn’t LOWER.
i hate to say it but i do not think america can survive 4yrs of biden/ harris.
at the rate they are destroying america and our values our homeland being invaded and a joint venture between the democrats and china to create a death virus to kill the old and patriots.
I am not sure we can survive till 2022, Let alone 2024’s election.
How many of those jobs are .gov \busywork careers?