Just how resilient is the U.S. economy’s recovery from the coronavirus recession? The weakening of the nation’s job-generating machine in September — for a third straight month — reinforced doubts. In an ordinary month in an ordinary year, the adding of 661,000 workers would be extraordinarily good news. In topsy-turvy 2020? Not so much. Last month’s gain looks worrisome because it marks a sharp falloff from 4.8 million added jobs in June, 1.8 million in July and 1.5 million in August. Economists had expected payrolls to rise by 850,000 in September, according to the data firm FactSet. With nearly half the 22 million jobs that were lost to the viral pandemic still gone, a slowdown in hiring is hardly encouraging. Economists fear the job market will face even more pressure if Congress fails to agree soon on another economic rescue package and if coronavirus cases resurge […]

Posted in: USA