US unemployment rate falls to 8.4% even as hiring slows

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A jobs report that exceeds expectations the August jobless rate fell to eight point four percent after being more than ten percent in July CFRA research chief investment strategist Sam Stovall says that that was a pleasant surprise expectations were for the unemployment rate to be in the middle nine percent area Stovall believes the economy is on the upswing our expectation is that it'll recover by almost thirty three percent in the third quarter and then continue to rise six percent in the fourth quarter and more than five percent for all of two thousand and twenty one Stovall thinks jobs reports in coming months will be similar to this one with drops in both the unemployment rate in the number of new jobs created my camp in Washington

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