CNBC Analyzes Dismal Jobs Report Amid Delta: 'Terrible News'

September 05, 2021

Analysts on CNBC’s Squawk Box assessed September’s abysmal jobs report on Friday, calling the net gain of 235,000 jobs — a third of the anticipated 720,000 — “terrible news” for the economy.He said education had represented a “big miss” for forecasters who expected a “huge influx of workers.”Private education gained 40,000 jobs for the month, but state and local education lost 27,000 jobs.Transportation and warehousing added 53,000 jobs, while manufacturing added 37,000.The report indicated that unemployment persisted despite rising wages, which rose 4.3 percent year-over-year, and 0.6 percent for the month.It still suggests we had, clearly a Delta variant effect in this number here.”Watch above via CNBC.