1.4 Million Jobs Gained in August; Unemployment Rate Falls to 8 Percent

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U.S. payrolls increased by 1.4 million in August, about what was expected, as the pace of rehiring has slowed and layoffs continue. The unemployment rate fell to 8.4 percent from 10.2 percent in July, according to the latest report from the Bureau of Labor Statistics. August was the first month after a $600 weekly unemployment supplement expired, and stimulus programs shoring up businesses that retained workers lapsed.

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