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U.S. job growth inched up in August

AP News 09/02/2020

The U.S. economy added 428,000 jobs in August, a figure that would be outstanding in normal times, but one that hardly makes a dent in the millions of Americans left unemployed as a result of the coronavirus pandemic, according to ADP. The payroll processing company said large companies added 298,000 jobs, medium-sized one added 79,000 and small businesses filled 52,000 positions. “Given the enormous job losses during the Viral Recession, job growth of around 400,000 per month means that it would take years for the labor market to recover from the coronavirus pandemic,” Gus Faucher, an economist at PNC, said.

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