Biden: 943,000 new jobs created during July 1:27
(CNN) - America
's job recovery hit a major hurdle in August, when the country's economy added far fewer jobs than expected.
Only 235,000 jobs were added last month, well below economists' expectations.
In normal times it would have been cause for celebration, but today it is a sharp slowdown from optimistic early summer employment reports.
This Friday's report fell far short of economists' already lowered expectations: Forecasts for the employment report had been revised down to 728,000 from 750,000 earlier, after Wednesday's ADP employment data, which accounts for private payrolls, also disappointing.
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Sectors that could recover more jobs 0:57
The unemployment rate fell to 5.2% in August from 5.4% previously, the Bureau of Labor Statistics reported Friday.
News in development.
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