Economy added nearly 1.4 million jobs in August

The national economy continued to add jobs in August, albeit at a slower pace than the previous three months. The economy added a net 1.4 million jobs in August on a seasonally-adjusted basis, according to preliminary data from the Bureau of Labor Statistics.

This was down from the 1.7 million net jobs added in July, and well below the 7.5 million total jobs added in May and June as the economy began to reopen.

Private sector employers added a net 1.0 million jobs in August, which was well below the 1.5 million jobs added in July. 

As of August, the economy was still nearly 12 million jobs – or 7.6 percent – down from its February peak. Full recovery from the coronavirus likely won’t be seen in the labor market until late-2021 at the earliest.  

Track more economic indicators and read more analysis and commentary from the Association's chief economist Bruce Grindy.