AUGUST UNEMPLOYMENT RATE FALLS TO 8.4%, BEATING EXPECTATIONS

Key Points:

  • The U.S. economy is continuing to show signs of a rebound.
  • Consensus among economists expected a 9.8% unemployment rate.
  • In reality, the unemployment rate declined by 1.8% to 8.4% in August and total nonfarm payroll employment rose by 1.4M.
  • This is the fourth consecutive monthly increase.