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US economy adds 586,000 jobs, unemployment falls to 5.2%

Number of unemployed down to 8.4M in August, announces US Labor Department

17:00 - 3/09/2021 Cuma
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The US economy added 586,000 jobs in August, with unemployment falling to 5.2%, the Labor Department announced on Friday.

Total nonfarm payroll employment rose by 235,000 jobs last month, while the market had estimated an increase of 750,000, according to Bureau of Labor Statistics data.

In line with market expectations, the unemployment rate slipped to 5.2% in August from 5.4% a month ago.

The number of unemployed individuals in the US stood at 8.4 million, down from 8.7 million in July.

The latest jobless figures "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," said a department statement.

The number of long-term unemployed, those jobless for 27 weeks or more, dropped 246,000 in August to 3.2 million, it added.

Due to COVID-19, more than 22 million people in the world's largest economy lost their jobs in March and April 2020.

#US
#economy
#unemployment
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