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.
- President Trump has praised job gains in recent months, even though they have consistently slowed from June's surprise 4.8 million jump.
The bottom line: The job market is still millions of jobs short of where it was before the coronavirus pandemic clobbered the economy.
