U.S. nonfarm payroll employment increased by 661,000 in September, according to the Bureau of Labor Statistics, and the unemployment rate fell to 7.9 percent. While economic activity continues to resume amid the COVID-19 pandemic, job growth shows a marked deceleration over previous months.
The U.S. economy added 1.49 million jobs in August and 1.76 million in July, including an upward revision of 145,000 jobs by the BLS, but remains 10.7 million jobs below its February level.
“The first dose of austerity exhibited by the loss to the vital enhanced unemployment insurance benefit in August is already taking a toll on job creation,” said Elise Gould, an economist at the Economic Policy Institute, in a bri
