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U.S. economy added 1.4 million jobs in August

The U.S. added 1.4 million jobs last month, while the unemployment rate fell to 8.4% from 10.2% in July, the government announced on Friday.

Why it matters: The labor market is rebounding, but the pace of hiring has dropped off. The slowdown could be a sign of what's to come: a long, sluggish job market recovery.


Between the lines: Congress remains deadlocked over another stimulus package that could support the job market and head off coming layoffs.

The bottom line: The job market is still millions of jobs short of where it was before the coronavirus pandemic clobbered the economy.

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