Unemployment At An All Time High Going Into The Election


Economists are expecting an unemployment rate of 8.2% in September which would be the highest jobless rate on record .

The US economy has rebounded but the recovery has been uneven and far from normal. Economists predict the economy added 850,000 jobs in September, but even if this forecast comes true, the country would still be down 10.7 million jobs.

The Bureau of Labor Statistics' September jobs report will be out on Friday and the recovery seems to be running out of steam. Covid infections are rising again and flu season is about to start, while outdoor activities that have helped restaurants and businesses recover will likely decline.

Experts think more layoffs will come as the year ends. America could lose 600,000 jobs in October and the jobs report will be published at the end of election week.

The September report will give us a glimpse at the labor market after the supplemental $600 weekly created through the CARES Act expired.

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