U.S. Labor Market Posts Worst Month Since January As 7.7 Million Americans Remain Unemployed
released Friday by the Labor Department—marking a second-straight monthly decline and the labor market’s worst monthly showing since December, as experts worry the pandemic’s resurgence has slowed the economic recovery.September’s job additions were much lower than the 500,000 new jobs economists were expecting, according to Bloomberg data, and fell from 366,000 in August.
The unemployment rate of 4.8% fell from 5.2% in August, hitting its lowest point in more than a year but well above pre-pandemic levels of about 3.5%.
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