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Over the course of the recession, manufacturing shed 1.1 million jobs, with the recession posting a total loss of 1.3 million jobs, representing 1.2% of payrolls. [3] The automotive industry, already in a poor position due to weak sales in 1979, shed 310,000 jobs, representing 33% of that sector. Construction declined by a similar 300,000.
U.S. unemployment rate and employment to population ratio (EM ratio) Wage share and employment rate in the US Employment-to-population ratio, also called the employment rate, [1] is a statistical ratio that measures the proportion of a country's working age population (statistics are often given for ages 15 to 64 [2] [3]) that is employed.
A 2015 report from the Brookings Institution shows that the number of newspapers per hundred million population fell from 1,200 (in 1945) to 400 in 2014. Over that same period, circulation per capita declined from 35 percent in the mid-1940s to under 15 percent. The number of newspaper journalists has decreased from 43,000 in 1978 to 33,000 in ...
CNN reported in September 2020 that GDP grew 4.1% on average under Democrats, versus 2.5% under Republicans, from 1945 through the second quarter of 2020, a difference of 1.6 percentage points. [3] In February 2021, The New York Times reported: "Since 1933, the economy has grown at an annual average rate of 4.6 percent under Democratic ...
Wages for people remaining in their jobs increased 4.8% year-on-year, the first rise in 25 months, after gaining 4.7% in October. Annual pay for workers changing jobs climbed 7.2% after rising 6.7 ...
As of September 2016, the total veteran unemployment rate was 4.3 percent. By September 2017, that figure had dropped to 3 percent. [173] About 25,000,000 people in the world's 30 richest countries lost their jobs between the end of 2007 and the end of 2010, as the economic downturn pushed most countries into recession. [174]
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Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).