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U.S. economy added 1.4 million jobs in August

Sep. 04, 2020 12:31PM EST
 Dan Ackermann

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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Gen Z is eroding the power of misinformation

Gen Z may be more immune to the lure of misinformation because younger people apply more context, nuance and skepticism to their online information consumption, experts and new polling suggests.

Why it matters: An innate understanding of social media influence, virality and algorithms among Gen Z — defined by Pew as the cohort born between 1997 and 2012 — could disarm the misinformation and disinformation racking the U.S.

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What China's uneven economic recovery means for the U.S.

Adapted from Institute of International Finance; Chart: Axios Visuals

China and much of Southeast Asia look to be bouncing back strongly from the coronavirus pandemic as stock markets and much of the country's economic data are returning to pre-pandemic levels.

What's happening: "Our tracking points to a clear V-shaped recovery in China," economists at the Institute of International Finance said in a note to clients Tuesday, predicting the country's second-quarter growth will rise above 2% after its worst quarter on record in Q1.

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