The unemployment rate fell quickly in August as the US economy continued to recover from the COVID-19 pandemic.
- US employers added 1.4 million jobs in August - the unemployment rate fell to 8.4% from 10.2% in July.
- At the beginning of the COVID-19 pandemic in April, the jobless rate hit as high as 15%.
- The drop in the unemployment rate was sharper than economists expected - a lot of laid-off workers have been recalled by businesses.
- D. Trump was very satisfied with the news about the unemployment rate, he said the drop came "many, many months ahead of schedule.”
- If the unemployment rate will continue to fall this fast, it may reach 7% by early November.
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