With 1.37 million jobs added in August, the US labor market continues to recover, although more slowly than in the past few months. However, the big surprise from the jobs report was the unexpected drop in the unemployment rate, down to 8.4%. The unemployment rate is now back to single digits and below the high from the Great Recession of 2008. While the economy continues to improve, it is still far from fully recovered and the pace of growth will be key over the next few months.
See full report HERE.
