August jobs report reveals slowing economic recovery for women
After solid job growth in July, the economy has slowed, adding just 235,000 positions in August, according to the Bureau of Labor Statistics. That number is a lot smaller than the 720,000 new hires economists had predicted as a surge in Covid-19 cases disrupts economic recovery.
Of the 235,000 jobs added, only 11.9% went to women, marking a sharp decline in women’s job growth from July, reports the National Women’s Law Center. There has also been a concerning drop in the number of women working or actively seeking employment. Women’s labor force participation rate decreased to 57.4% from 57.5% in July — before the pandemic, it had not dropped this low since 1988.
“This was not a good month for jobs, especially right after July, when we saw over a million jobs added,” Jasmine Tucker, director of research at the NWLC, tells CNBC Make It. “But the pandemic has made the market really…