Federal Reserve Chairman Jerome Powell said Friday’s report showing 1.4 million Americans found or resumed work in August was good news, but the economy likely will require more government spending and low interest rates for years. “We do think it will get harder from here,” said Mr. Powell. Job gains in August helped push down the unemployment rate to 8.4% from 10.2% in July, the Labor Department report said Friday. The U.S. economy lost nearly 22 million jobs between February and April, but has recovered around half of those since May. Through August, around 11.5 million fewer people had jobs than in February.

Source: Wall Street Journal September 04, 2020 20:15 UTC