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The rate was the highest of any month since the BLS began tracking in 1948. According to BLS statistics, the unemployment rate was at 3.5% in Feb 2020, a month prior to the pandemic's start in the ...
The BLS uses the data to publish reports early each month called the Employment Situation. [2] This report provides estimates of the unemployment rate and the numbers of employed and unemployed people in the United States based on the CPS. A readable Employment Situation Summary [3] is provided monthly. Annual estimates include employment and ...
Data from the Bureau of Labor Statistics released Friday showed the labor market added 275,000 nonfarm payroll jobs in February, significantly more additions than the 200,000 expected by ...
On Tuesday, Treasury Secretary Steven Mnuchin stated in a meeting with Republican senators that the U.S. unemployment rate could reach 20% if significant fiscal action was not taken immediately ...
The unemployment rate was forecast to average 11.5% in 2020 and 9.3% in 2021. [264] The COVID recession increased wealth and racial inequality. [265] According to a study, the pandemic drove 8 million Americans into poverty between May and September 2020. [266]
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]
July’s unemployment rate, the most recent figure available, was 4.3%, the Bureau of Labor Statistics reported. That’s up from 3.5% a year ago. That’s up from 3.5% a year ago.
The 128-month (10.7-year) economic expansion that began in June 2009 abruptly ended at a peak in February 2020, with the U.S. entering a recession due to the COVID-19 pandemic. [12] The U.S. unemployment rate, which had hit a 50-year low (3.5%) in February 2020, hit a 90-year high (14.7%) just two months later, matching Great Depression levels.