UAE’s employment figures stall coronavirus-era recovery

UAE’s employment figures stall coronavirus-era recovery

On the surface, some key economic indicators are beginning to paint a more positive picture of a post-coronavirus landscape. Employment in the US rose by 1.37 million last month, helping to trim the unemployment rate to 8.4 percent from its pandemic-peak of 14.7 percent in April. The latter was particularly encouraging considering that one million more people started looking for work in August after generous federal unemployment benefits expired at the end of July.

While these most recent figures show that the US labour market is continuing to recover - even as virus cases increase - it is not all good news, as it so rarely is when economists are telling the story.

Firstly, the rise in jobs was the smallest since June, and if we strip out the 238,000 people hired