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Employment in the US slowly recovers in August with the injection of 1.4 million jobs

2020-09-04T12:51:22.904Z


This is shown by the data published by the Labor Department, where the unemployment rate stood at 8.4%.The United States is slowly recovering the jobs that disappeared due to the coronavirus pandemic, with an unemployment figure for August that has fallen to 8.4%, thanks to the injection of 1.4 million jobs during that month. According to data released this Friday by the Labor Department, temporary hiring for the 2020 Census, as well as improvements in retail trade, the leisure and hospitality ind


The United States is slowly recovering the jobs that disappeared due to the coronavirus pandemic, with an unemployment figure for August that

has fallen to 8.4%,

thanks to

the injection of 1.4 million jobs

during that month.

According to data released this Friday by the Labor Department, temporary hiring for the 2020 Census, as well as improvements in retail trade, the leisure and hospitality industry, in education and health services explain the drop in unemployment.

The 8.4% rate is just below the Great Recession peak unemployment level of 2008-2009.

However, the number of layoffs since March was so great that millions of Americans are still out of work.

More than 880,000 workers applied for new unemployment benefits in the last week of August, a figure lower than analysts' estimates and which is also the lowest since the start of the pandemic, the Labor Department reported Thursday.

[The White House and the Democrats reach a budget agreement leaving aside the new stimulus plan for COVID-19]

Some companies are still willing to hire workers, it will take many months to return to pre-pandemic work levels, even if that pace continues.

Although many economists think hiring is slowing down, the economy still has about 13 million fewer jobs than when the pandemic began.

This Friday's employment data is the penultimate report before the November 3 elections.

For most voters, the most visible barometer of the economy, and therefore an element that influences the time to vote.

A report from the Federal Reserve this week, based on some company reports, found "increasing cases of workers being permanently laid off due to low demand."

Between June and July, the number of people who were unemployed for 15 weeks or more tripled to more than 6 million.

[A fatal mistake: the Government sends 1,400 million dollars in aid checks for the coronavirus to more than a million deceased]

About 29 million Americans receive state unemployment assistance, although their total benefits, on average, have more than halved since the federal supplement of $ 600 a week expired more than a month ago.

The Administration established a program that will provide some of the unemployed with $ 300 a week.

Only people who receive at least $ 100 a week in state unemployment assistance will qualify for this assistance.

This requirement could exclude at least 850,000 Americans.

Uneven recovery

The recovery of the economy

seems to operate in two tracks.

Manufacturers are enjoying a

solid rebound in demand for cars,

home appliances and electronics, with factory orders returning almost to pre-pandemic levels.

Home

sales are booming

, too, as are house prices.

In July, home sales increased more than ever and are now nearly 9% higher than a year ago.

Home sales skyrocket amid the COVID-19 pandemic.

These are the causes of the rebound

July 31, 202001: 59

On the other hand, hotel and casino operator MGM Resorts, hit by the drop in travel and tourism, said last week that it is cutting 18,000 jobs.

Coca Cola, which gets half of its sales from stadiums, theaters and other venues that have been largely closed, is offering voluntary takeovers to 4,000 employees to reduce the number of layoffs.

Salesforce said it is cutting 1,000 jobs.

Bed, Bath & Beyond will get rid of 2,800.

With information from The Associated Press.

Source: telemundo

All news articles on 2020-09-04

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