The unemployment rate dropped to 5.2 percent from 5.4 percent in July.
Walmart announced this week that it will hire 20,000 people to expand its supply chain and online shopping operations. | Matt Rourke/AP PhotoAmerica’s employers added just 235,000 jobs in August, a surprisingly weak gain after two months of robust hiring at a time when the delta variant’s spread has discouraged some people from flying, shopping and eating out.
With Covid cases having spiked in July and August, Americans have been buying fewer plane tickets and reducing hotel stays. Restaurant dining, after having fully recovered in late June, has declined to about 10 percent below pre-pandemic levels. Supply shortages have also fed an inflation surge, with consumer prices having jumped in July by the most in three decades, according to the Fed’s preferred measure. Rising inflation pressures have contributed, in turn, to a sharp drop in consumer confidence.
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