(ReliableNews.org) – When the COVID-19 pandemic hit the US earlier this year, the economy was doing really well. The stock market was experiencing record gains. Unemployment was at a 50-year low. Everything was looking pretty good, then the lockdown measures caused the country to grind to a halt. Millions of Americans were suddenly out of work, and it looked like America might be headed toward a recession. Fortunately, things are starting to turn around.
According to a September 4 report by the Labor Department, the US added 1.4 million jobs in August. Unemployment dropped from 10.2% to 8.4%.
“Today’s jobs report is encouraging news for American workers heading into Labor Day. The report significantly beat expectations, with the unemployment rate dropping to 8.4% even as more Americans entered the labor force.” https://t.co/vVOK6ubGrC #JobsReport pic.twitter.com/jA1Ns2b9y1
— US Labor Department (@USDOL) September 4, 2020
President Donald Trump touted the report and said the numbers are “much better than expected.”
Great Jobs Numbers! 1.37 Million Jobs Added In August. Unemployment Rate Falls To 8.4% (Wow, much better than expected!). Broke the 10% level faster and deeper than thought possible.
— Donald J. Trump (@realDonaldTrump) September 4, 2020
The latest numbers are great for the president as the US inches closer to the election. Throughout his presidency, Trump’s policies have contributed to one of the longest periods of economic expansion in the country’s history. Now, it’s starting to look like the country is bouncing back from the coronavirus outbreak.
On November 3, the American people will decide if they want Trump to oversee the next great expansion of our economy.
Copyright 2020, ReliableNews.org
