U.S. Economy Added 235,000 New Jobs In August
we're back with breaking news the august jobs report crossed just moments ago the united states economy added 235 000 new jobs around 720 000 had been expected joining us now nbc news senior business correspondent msnbc anchor who follows us here stephanie real steph help me out with this number 235 000 jobs added versus a projection of 720 000 what happened and coming after july when we had over nine hundred thousand huge slowdown willie yes we are still in an economic recovery but for those who thought we are booming we are racing we're absolutely not seeing what we thought we were going to see we are seeing wages go up a smidge that's positive news and economists i'm telling you they are going to be writing phd papers about this for years over the fact that there are millions of open jobs in this country yes many of them are lower wage jobs trucking jobs service jobs hospitality jobs that aren't getting filled with americans asking well why isn't that the case now.
We know that from last month to this month we saw delta variant on the rise more businesses delay return to work so a lot of ancillary businesses might not have brought workers back so quickly but the question is going to be what happens from here willie remember we are on the eve of those une expanded unemployment benefits running out we know that that rent moratorium is expiring and one of the main reasons people weren't going back to work is that they didn't have child care kids weren't in school now that all of those things are happening right now this could be the push going forward to get people back to work because there is a mismatch only 250 000 people went back to work but we know there are lots of open jobs out there yeah steph. I'm just combing through some of these while you're bringing us the perspective on it looks like leisure and hospitality added no jobs obviously you get a big rush of summer hiring in the previous couple of months which helped with that one million dollar number but no jobs added in leisure and hospitality which may be contributing to the big miss on the estimate and remember.
When it comes to leisure hospitality travel with that surge in delta there was a big slow down think about your own life you may have had big plans at the end of the summer for a big international trip you may have been going to a lot more social events earlier in the summer but as we saw these breakout cases as we saw more and more people getting covered kids getting coveted people started not necessarily to quarantine again but to slow down their behavior and you saw businesses respond to that and slow down in their hiring hey thanks so much for watching our youtube channel you can follow up on today's top stories and breaking news or catch up on your favorite msnbc shows all in one place download the nbc news app today
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