US economy takes step back as Delta variant bites

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US economy takes step back as Delta variant bites
 © CyprusMail 2021
The US economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in Covid-19 infections, which weighed on demand at restaurants and hotels.

But other details of the Labor Department’s closely watched employment report on Friday were fairly strong, with the unemployment rate falling to a 17-month low of 5.2 per cent and July job growth revised sharply higher. Wages increased a solid 0.6 per cent and fewer people were experiencing long spells of unemployment.

This points to underlying strength in the economy even as...


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Article automatically added to our system on Sunday, September 5, 2021

US economy takes step back as Delta variant bites


Contents of this article including associated images are © CyprusMail 2021
Views & opinions expressed are those of the author and/or CyprusMail .

Article Tags: #economy   #takes   #delta   #variant   #bites  


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