US hiring slows

The U.S. economy looks healthy

America’s employers added just 235,000 jobs in August, a surprisingly weak gain after two months of robust hiring and the clearest sign to date that the delta variant’s spread has discouraged some people from flying, shopping and eating out.

The August job growth the government reported Friday fell far short of the sizable gains of roughly 1 million in each of the previous two months. The hiring jumps in June and July had followed widespread vaccinations that allowed the economy to fully reopen from pandemic restrictions. Now, with Americans buying fewer plane tickets, reducing hotel stays and filling fewer entertainment venues, some employers in those areas have slowed their hiring.

Still, the number of job openings remains at record levels, with many businesses eager for workers, and hiring is likely to rebound in the coming months. Even last month’s modest job growth was sufficient to lower the unemployment rate to 5.2% from 5.4% in July. With consumers willing to spend and companies trying to hire, the U.S. economy looks healthy.

https://apnews.com/