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Weak Job Gains Leave Washington on High Alert

Weak Job Gains Leave Washington on High Alert

The New York Times
Saturday, September 04, 2021 01:24:20 AM UTC

The Federal Reserve and White House had hoped for strong job gains, and the August report did not deliver. That makes coming numbers critical.

Disappointing August jobs numbers intensified the economic uncertainty caused by the Delta variant, putting pressure on the Federal Reserve as it considers when to reduce its policy support and on the White House as it tries to get more Americans vaccinated. Fed officials and President Biden had been looking for continued improvement in the job market, but the Labor Department reported on Friday that employers added just 235,000 jobs in August — far fewer than projected and a sign that the ongoing coronavirus surge may be slowing hiring. “There’s no question that the Delta variant is why today’s job report isn’t stronger,” Mr. Biden said in remarks at the White House. “I know people were looking, and I was hoping, for a higher number.”
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