U.S. economy added 235,000 jobs in August, while the unemployment rate fell to 5.2% from 5.4%, offering a snapshot of how the delta variant is impacting economic growth.
The U.S. economy added just 235,000 jobs in August, compared to the 720,000 expected by economists, in a sign that the delta variant of the coronavirus is weighing on economic growth.
The month finished out with the catastrophic Category 4 Hurricane Ida laying waste to buildings and infrastructure across greater New Orleans before churning up the Eastern Seaboard with a payload of deadly, record-breaking rainfall that paralyzed much of the New York City metro area. Advocates worry that the red-hot housing market, which also has triggered a spike in rents, will make it even harder for families displaced by Ida.
Hurricane Ida has piled onto that existing dysfunction. Evacuees have been streaming into Texas, with many perilously short on food, fuel and funds, said Teressa Duesler, director of disaster response at Catholic Charities of Southeast Texas.
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