Friday’s non-farm payrolls report—a barometer of America’s labor market health—not only reflected below-expectations job growth in August but also showed unemployment rising for black workers, teenagers, and those with some college or an associate degree. The Labor Department’s jobs report, released Sept. 3, showed that non-farm payroll employment rose by 235,000 in August, down from an upwardly revised 1.05 million jobs added in July and far below the FactSet-provided consensus forecasts of 750,000. “With a big shortfall in jobs creation or recovery in August, it appears the Delta variant has infected the U.S. economy. Payrolls growth came in well below expectations and at the lowest level since January,” Bankrate senior economic analyst Mark Hamrick said in an emailed statement to The Epoch Times. The overall unemployment rate fell to 5.2 percent in August from 5.4 percent in July, while the total number of unemployed people edged down to 8.4 million. “This latest employment snapshot …
Unemployment Rises Among Blacks, Teenagers, and Those With Associate Degree
September 4, 2021
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