Market Update

Disappointing jobs report could mean low rates stick around

     
Disappointing jobs report could mean low rates stick around

The COVID-19 Delta variant took its toll on jobs creation in August, according to data from the latest jobs report. The Labor Department shows just 235,000 jobs were added in August—well below the expectation of 720,000. CNBC’s own analysis shows that hiring in the services industry, including bars and restaurants, didn’t just slow down, it came to an “abrupt halt.” According to the Labor Department’s data, the leisure and hospitality sector added net zero jobs in August.

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