Labor market added 315,000 jobs in August, a bright spot in the economy

9/2/22
 
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from The Washington Post,
9/2/22:

Hiring slowed in August but still marked 20 consecutive months of sustained job growth.

The U.S. labor market added 315,000 jobs last month, hitting a 20-month streak in strong job growth that’s powering an economy through ominously high inflation.

The report was welcome news to President Biden, who has struggled in the polls most of this year, with Americans frustrated by inflation being at 40-year highs. The jobs report combined with signs that inflation may have peaked could signal that the economy is on the road to stability.

“We received more good news in August,” Biden said in comments at the White House. “The great American jobs machine continues its comeback.

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