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The outbreak of the COVID-19 pandemic has had a deep impact on the rate of unemployment in the United States. The World Economic Forum predicts a possible rise in the unemployment rate to 20%, a figure unseen since the Great Depression. [76]
The United States depended on direct payments and loans to help individuals and businesses, regardless of whether jobs were retained. As a result, while aggregate hours worked decreased by around 15% in the United States and the European Union, unemployment increased significantly in the United States.
The true COVID-19 death toll in the United States would therefore be higher than official reports, as modeled by a paper published in The Lancet Regional Health – Americas. [3] One way to estimate COVID-19 deaths that includes unconfirmed cases is to use the excess mortality , which is the overall number of deaths that exceed what would ...
The number of Americans forced out of work by the coronavirus pandemic has continued to climb, with another 4.4 million workers filing for unemployment benefits last week. The latest figure ...
The COVID-19 pandemic has brought initial unemployment claims to 38.6 million in just nine weeks, according to the latest data from the U.S. Department of Labor — shattering historic highs ...
Another 3 million Americans filed for unemployment benefits last week, raising the number of people forced out of work by the coronavirus pandemic to over 36 million. The devastating report ...
The COVID-19 pandemic led to a massive drop in persons in the labor force. According to Pew Research Center, from February 2020 to February 2021 an estimated 4.2 million people left the labor force because of COVID-19, 2.4 million of which were women. [47] [48] As a result, women's participation in the labor force was at a 30-year low. [49]
A massive loss of working-age people in the state in the wake of the Covid-19 pandemic, and its slow recovery since, is the key reason behind the state’s ultra-low unemployment rate.