Unemployment Rate Unexpectedly Rose To 3.7% In August As Layoffs Continue To Spike

Topline The unemployment rate unexpectedly rose last month as the economy added another 315,000 jobs—signaling the labor market, which has remained one of the economy’s strongest pillars during the pandemic recovery, could be starting to cool as the Federal Reserve works to combat inflation by tempering consumer demand. Key Facts Job gains in August were…

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