Unemployment moves up as midterms approach


By John Hugh DeMastri
Daily Caller News Foundation

The U.S. added 315,000 jobs in August, as unemployment rose slightly to 3.7%, according to data released by the Department of Labor Friday.

The number of unemployed people rose by 344,000 to 6 million, an increase of 0.2 percentage points from July, according to the Bureau of Labor Statistics data. A survey of economists conducted by the Wall Street Journal in advance of the report’s release estimated that 318,000 jobs would be added and that unemployment would remain around 3.5%.

“The labor market isn’t just running hot, it’s like a burning inferno,” Megan Greene, global chief economist for the Kroll Institute and a senior fellow at Brown University, told CNN ahead of the data’s release.

Despite how tight the current labor market is, some sectors are being forced to lay off employees that were brought on to handle a surge in pandemic supply, CNN reported. Technology companies and those that work closely with them were most affected, with companies like Robinhood and Snap Inc each cutting around 20% of their employees in August,

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