Friday, May 8, 2020

BLS: US unemployment at 14.7%. 20,500,000 jobs lost

Credit: Calculated Risk
Well, that's bad news. The Bureau of Labor Statistics reported today that the national employment rate is 14.7%, and payrolls fell by 20.5 million positions in April

The broader U6 measurement of unemployment was 22.8%.

The chemical manufacturing subsector saw a drop in positions from 850300 to 819200, a drop of 31000 positions (seasonally adjusted).

The unemployment rate of college graduates was 8.4% for April 2020, while by contrast the unemployment rate for people without a high school diploma was 21.2%. 

1 comment:

  1. Not to diminish the national tragedy that is unfolding, but this looks like an area under the curve problem. Sure, that shot up fast, but how do the total job losses during the 2007-9 crisis compare to the current one? If the total job losses a decade ago are double this one, will we recovery fast, or I am being overly optimistic? (Especially in light of the whole, re-outbreak/re-closure worry).


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