US Job Growth Is Slowing. Here’s What It Means For You | Freeman Capital

Job Growth Slowed Down In August

It was another month of job gains announced on Friday, as the nonfarm payrolls increased by 1.37 million in August, and the unemployment rate shot back down to 8.4% – by far the lowest rate since the pandemic downturn started.

To see unemployment in the single digits so soon is something not many people predicted a few months ago. In fact, some economists predicted, back in March, that job losses would hit 47 million, and unemployment would be 32%.

Think about that – one of every 3 people who want to work, would not have been able to. 47 million people is approximately the entire population of Spain, or 1.25 Canada’s. So while things are still grim for many, at least there is a bright side.

 

What Does It Mean For You

Unfortunately, what this means for you and me is that there is likely going to be more delays on stimulus bills from Congress. With positive economic notes like these, it allows more bargaining for less money to those who need it most.

Remember what happens now when it comes time to vote in November.

Freeman Capital

Freeman Capital

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