The numbers: The economy created a disappointingly small 235,000 new jobs in August amid another major coronavirus outbreak, raising questions about whether the Federal Reserve will delay plans to start weaning the U.S. off its easy-money strategy.
The increase in new jobs was the smallest in seven months and fell well short of Wall Street’s forecast. Economists surveyed by The Wall Street Journal had forecast a 720,000 increase.
The details of the August employment report were lackluster across the board.
The private sector generated only 243,000 new jobs, for instance, and employment in leisure and hospitality, the part of the economy most sensitive to the virus, was flat.