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A rough comparison of September 2014 (when the unemployment rate was 5.9%) versus October 2009 (when the unemployment rate peaked at 10.0%) helps illustrate the analytical challenge. The civilian population increased by roughly 10 million during that time, with the labor force increasing by about 2 million and those not in the labor force ...
And while both Texas and the U.S. saw around 63.4% of people participating in the labor force before the pandemic, Texas’s labor force participation rate has recovered to 64.2% as of last month.
June payrolls fell by 467,000, according to the Bureau of Labor Statistics. That was higher than the 365,000 jobs economists surveyed by Bloomberg had expected employers would shed. The BLS said ...
In April 2020, 138,000 Austin residents were without a job, reflecting a 12.2 percent unemployment rate; this was the highest unemployment rate recorded in the city since recordkeeping began in 1990; the previous highest was 7.8 percent in July 2009. Nearly half of the job losses between March and April 2020 were from bars, restaurants, and hotels.
In 2003, prior to the significant expansion of subprime lending of 2004-2006, the unemployment rate was close to 6%. [52] The wider measure of unemployment ("U-6") which includes those employed part-time for economic reasons or marginally attached to the labor force rose from 8.4% pre-crisis to a peak of 17.1% in October 2009.
In February 2020, at the start of the COVID-19 pandemic in the United States, there were 164.6 million civilians in the labor force. [2] Before the pandemic, the U.S. labor force had risen each year since 1960 with the exception of the period following the Great Recession, when it remained below 2008 levels from 2009 to 2011. [2]
The unemployment rate now stands at 9.8 percent, we learned Friday morning and, to quote Claude Raines in Casablanca, the market was shocked -- shocked! -- by the news, at least initially.
The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an ...