US unemployment rate falls to 8.4% in August

Washington: US employers added 1.4 million jobs in August, and the unemployment rate dropped to 8.4 per cent, as the nation's pandemic-ravaged labour market continues to slowly recover, the US Bureau of Labor Statistics reported Friday.
"These improvements in the labour market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it," the bureau said in its monthly employment report.
Notable job gains in August occurred in government employment, which was largely buoyed by temporary hiring for the 2020 census. Employment in government increased by 344,000 in the month, accounting for one-fourth of the over-the-month gain in total nonfarm employment.
There was also a marked increase in retail trade, professional and business services, leisure and hospitality, and education and health services, according to the report. Retail trade added 249,000 jobs in August, with almost half the growth occurring in general merchandise stores.
The US unemployment rate previously soared to a record 14.7 per cent in April as COVID-19 devastated the economy. It declined slightly to 13.3 per cent in May and continued to fall to 11.1 per cent in June as businesses gradually reopened across the country.
Amid a resurgence in COVID-19 cases, US employers added 1.76 million jobs in July, and the unemployment rate dropped to 10.2 per cent. Even with the August data, payrolls are still more than 11 million below pre-pandemic levels.