Total Nonfarm Employment Rises in August as Unemployment Falls

According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 1.4 million in August, and the unemployment rate fell to 8.4%. According to the BLS, the improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In August, an increase in government employment largely reflected temporary hiring for the 2020 Census. Notable job gains also occurred in retail trade, in professional and business services, in leisure and hospitality, and in education and health services.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.