U.S. job growth seen slowing in August as Delta variant curbs services demand

A sign advertising job openings is seen while people walk into the store in New York City, New York, U.S., August 6, 2021. REUTERS/Eduardo Munoz

  • Nonfarm payrolls forecast increasing 750,000 in August
  • Unemployment rate seen falling to 5.2% from 5.4%
  • Average hourly earnings forecast rising 0.3%

WASHINGTON, Sept 3 (Reuters) – U.S. employment growth likely pulled back in August after gaining nearly 2 million jobs in the past two months as soaring COVID-19 cases reduced demand for travel and entertainment, but the pace was probably enough to sustain the economic expansion.

The Labor Department’s closely watched employment report on Friday

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First Business Services (FBIZ) falls 0.93% for August 24

FM to meet CEOs of PSBs on August 25 to review financial performance

Finance Minister Nirmala is scheduled to meet heads of public sector banks (PSBs) on August 25 to review financial performance of the lenders and progress made by them to support the economy battered by COVID-19 pandemic.

Given the importance of the banking sector in generating demand and boosting consumption, sources said the meeting with the MD and CEOs of PSBs is considered important.

Recently, the Finance Minister said the government is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic.

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