The U.S. Economy bounced back in August with better than expected numbers. 1.37 million jobs were added and unemployment fell to 8.4%, the lowest since nationwide shutdowns began in March.
Economists expected the job market to improve in august, but the projections expected around half of the total amount that was added. The labor market improved on many levels, and labor force participation increased .3 points to 61.7 percent. This is a direct result of the improving economy despite the attempts to continue stringent government lockdowns.
The blue-collar workforce was able to feel the positive repercussions as the manufacturing and industrial sectors added hundreds of thousands of workers. Additionally, payroll data shows that wages are back on the rise and companies are moving toward the pre-quarantine levels.
This economic bounceback can be attributed to the hard work that the Trump administration and other GOP representatives have done to provide aid. These include relief payments, increased unemployment, and other forms of financial assistance. Many other relief programs are being introduced by GOP leaders, but they have been stalled by Democrats like Nancy Pelosi.
The economic improvement that was seen in August shows that the economy will continue to improve throughout 2020 as the country continues to recover from the China coronavirus pandemic. Democrats are looking to suppress economic improvement in order to be more successful in the upcoming election.