Series begin in January 1976. The American economy just got a shocking piece of good news: The job market may be recovering well ahead of schedule.
Pay more attention to long-term trends, which appear over several months.
During the 2008 recession, unemployment peaked at 10% in October 2009. Those are not a cause for alarm. .
The nation's high unemployment rate dropped in June, falling to 11.1% from 13.3%, as more Americans went back to work. Unemployment Rate and Labor Force. The official unemployment rate hit 14.7% in April, its highest since the Great Depression, when it exceeded 25%. It had been 14.283 million in April. "U.S. Bureau of Labor Statistics. " Most of the unemployed were laid off in the last weeks of March and April.
BLS offers many types of data for regions, states and local areas. Be in the know. Estimates for at least the latest five years are subject to revision early in the following calendar year. The reason is the COVID-19 pandemic. But that number likely includes duplicate applications, as some states have instructed workers to reapply if they were first found ineligible, and doesn’t include those seeking PUA benefits.Economists suggest that the number of workers currently receiving benefits or waiting to get benefits is likely closer to more than 31 million. "U.S. Bureau of Labor Statistics. "In addition, a recent rise in COVID-19 cases in the South and West late last month has likely halted leisure industry gains as many of those businesses pull back on their reopenings.
During the Great Recession, unemployment reached 10% in … The uptick in claims is one of the first indicators that the recent increase in virus cases is threatening the economy’s fledgling recovery. These are estimates, and they are revised as more data comes in. Over the year, compensation rose 2.7 percent, with wages and salaries rising 2.9 percent and benefit costs increasing 2.2 percent.
The economy added a record 952.9 thousand jobs, above forecasts of a 700 thousand gain, due to both full-time work (+488.1 thousand) …
The number of unemployed people who were jobless less than five weeks fell to 2.838 million. Indeed, employment in all sectors is far below where it was prior to March, when the coronavirus pandemic brought the economy to a standstill. Unemployment Rate in the United States averaged 5.75 percent from 1948 until 2020, reaching an all time high of 14.70 percent in April of 2020 and a record low of 2.50 percent in May of 1953. "The May jobs reports showed that a significant amount of people are moving back into work as employers are recalling temporary layoffs," Nick Bunker, director of economic research at Indeed Hiring Lab, said in response to the figure. The nation's high unemployment rate dropped in June, falling to 11.1% from 13.3%, as more Americans went back to work. These people aren't counted in the unemployment rate, because they are not actively looking for work at the time the monthly survey is conducted by the Labor Department.Julia Pollak, labor economist at ZipRecruiter, noted that the labor force has shrunk by 4.6 million since February. The unemployment rate in Canada fell to 12.3 percent in June 2020 from a record high of 13.7 percent in May, and compared market expectations of 12 percent, as several people returned to the labor market amid the easing of coronavirus-induced lockdowns restrictions. Unemployment rate (aged 16 and over, seasonally adjusted) UK: Aged 16 and over 3.9 % 2020 MAR-MAY Release date: 16 July 2020 Next release: 11 August 2020.
Georgia followed with an estimated 134,711 new claims.The new requests for unemployment assistance are coming even as some Americans are going back to work. March to May figures show weakening employment rates, with self-employed and part-time workers seeing reductions; despite these falls, unemployment … This article examines the relationship between workersâ ability to work at home and the actual incidence of working at home. That's lower than April's post-Depression record rate of 14.7%.
Unfortunately, they do not include or count each individual who is unemployed.
The coronavirus crisis continues to tear through the US economy, as another TK million Americans filed for first-time unemployment benefits last week, according to the Labor Department.
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