US added 1.4 million jobs in August, unemployment rate falls to 8.4%

Posted at 7:40 AM, Sep 04, 2020

According to a monthly jobs report, the U.S. added 1.4 million jobs in August as the unemployment rate fell from about 10% to 8.4%.

The unemployment rate is the lowest it has been since government-mandated shutdowns due to he coronavirus took place in March. Prior to the pandemic, unemployment sat at about 3.5%

While Thursday's reports continue several months of positive economic news, some analysts believe the gains could be short-lived without another round of stimulus from Congress. Several provisions from the CARES Act, including increased unemployment benefits and bailouts for the airline industry, are already expired or are scheduled to expire in the coming weeks.

This story is breaking and will be updated.