Recovery slowed in September as economy added 661,000 jobs and unemployment dipped to 7.9%
(Worthy News) – The economy added 661,000 jobs and the unemployment rate fell to 7.9% in September, the Labor Department reported on Friday, as hiring rates have slowed.
Friday’s jobs report is the last before November’s election. And while it shows, like in previous reports, historically large number of job gains, the pace of the recovery has fallen off the trajectory that would be needed to return the economy quickly to its pre-pandemic health.
“Don’t let the headline numbers fool you. This report is bad,” said Nick Bunker, an economic research director at the job search engine Indeed.com. “The economy may have added jobs but at a pace way too slow considering how many jobs were lost earlier this year.” [ Source: Washington Examiner (Read More…) ]
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