Economics
U.S. Jobs Rise Less Than Forecast as Economic Rebound Downshifts
- Unemployment rate falls to 7.9% but participation also drops
- Report is last before presidential election in November
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U.S. job gains slowed in September and many Americans quit looking for work, suggesting the economic recovery is downshifting as the country struggles without a Covid-19 vaccine or fresh government aid.
Nonfarm payrolls increased by 661,000 following an upwardly revised 1.49 million advance in August, according to the Labor Department Friday. That compared with the median estimate of economists for a gain of 859,000.