U.S. adds fewer-than-expected 235,000 jobs as COVID cases rise

Economy

The U.S. economy added a fewer-than-expected 235,000 jobs in August as coronavirus cases have surged on the back of the spread of the highly contagious Delta variant, Labor Department data showed Friday. The unemployment rate, meanwhile, dropped 0.2 percentage point to 5.2 percent. Growth in nonfarm payrolls sharply missed the market consensus of an increase of 750,000. Market players have closely watched the data for clues as to when the U.S. Federal Reserve will start scaling back its massive bond-buying program, launched in response to the coronavirus pandemic. The Labor Department revised ...

Kyodo News

Kyodo News