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As of 2022, the unemployment rate reached its pre-pandemic levels - nevertheless, in many key aspects and industries, the U.S. economy has not completely recovered from the COVID-19 pandemic. A growing digital gap emerged in the United States following the pandemic, despite non-digital enterprises being more dynamic than in the European Union .
That same month, the unemployment rate was 3.6%, the lowest level since before the pandemic. ... Average hourly earnings rose by 0.4% month-over-month in August, up from the 0.2% pace in July ...
At its peak, Israel was one of the world's worst hit countries from the COVID-19 pandemic. By 1 April 2020, the national unemployment rate had reached 24.4 percent. In the month of March alone, more than 844,000 individuals applied for unemployment benefits—90% of whom had been placed on unpaid leave due to the pandemic.
Unemployment benefits during the pandemic also replaced a bigger share of lost income than in previous recessions. The median replacement rate was 103% in 2020, versus 56% in 2009 and 64% in 2010 ...
A PNAS report in September 2020 confirmed that the virus is much more dangerous for the elderly than the young, noting that about 70% of all U.S. COVID-19 deaths had occurred to those over the age of 70. [94] As of early August 2020, among the 45 countries that had over 50,000 cases, the U.S. had the eighth highest number of deaths per-capita.
The unemployment rate ticked down to 4.1%. Employers hired 254,000 workers last month, blowing past economist expectations of 150,000 jobs added, U.S. Bureau of Labor Statistics data showed.
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).
The number of Americans applying for unemployment benefits rose modestly last week but remains at healthy levels. The Labor Department reported Thursday that applications for jobless claims rose ...