German newspaper Junge Welt has reported that the labour market situation in the US has further worsened
In the US the labour market situation has deteriorated in August. Companies created only 315,000 new jobs compared to 526,000 in July. The unemployment rate rose to 3.7% in August. It was 3.5% in July. This was reported by a German newspaper citing the US Labor Department.
In January and February 2020, the US unemployment rate had already reached 3.5 per cent, the lowest level in about 50 years before millions of people lost their jobs due to the coronavirus pandemic. In April 2020, the rate soared to 14.7 per cent, the highest level since the global economic crisis of the 1930s.
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