Day: September 6, 2020

US Added 1.4 Million Jobs In August, While Unemployment Rate Fell To 8.4%

KEY POINTS

  • The jobless rates declined in the month for adult men (to 8%), adult women (8.4%), teenagers (16.1%).
  • The number of Americans on temporary layoff decreased by 3.1 million to 6.2 million in August
  • But the number of permanent job losers increased by 534,000 to 3.4 million in August

The U.S. economy added 1.4 million jobs in August, while the jobless rate dropped to 8.4% from 10.2% in the prior month, the U.S. Bureau of Labor Statistics reported Friday.

The number of unemployed people dropped by 2.8 million to 13.6 million, the fourth straight month of such declines.

Within segments of the workforce, the jobless rates declined in the month for adult men (to 8%), adult women (8.4%), teenagers (16.1%), Whites (7.3%), Blacks (13%), and Hispanics (10.5%). The jobless rate for Asians (10.7%) remained unchanged from July.

The number of Americans on temporary layoff decreased by 3.1 million to

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Thailand’s Finance Minister Resigns Less Than Month Into Job

(Bloomberg) — Thailand’s finance minister resigned less than a month after he took office, injecting more uncertainty into an economy already reeling from its worst crisis in decades. The nation’s currency tumbled the most since July.

The resignation of Predee Daochai, a former co-president of Kasikornbank Pcl, will be effective from Wednesday, according to a Royal Gazette announcement Tuesday. Predee, 61, was named as the new finance minister on Aug. 6 and joined Prime Minister Prayuth Chan-Ocha’s Cabinet on Aug. 12.

Predee resigned because of ill health, Prayuth said, adding the minister’s resignation won’t derail government policies. A new finance minister will be appointed at the “appropriate time,” he told reporters in Bangkok Wednesday.

Prayuth may approach outgoing Bank of Thailand Governor Veerathai Santiprabhob and former president of PTT Pcl Pailin Chuchottaworn to replace Predee, Thai-language newspaper Krungthep Turakij reported earlier, citing a source from the government house. A spokesman

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