Searcher

Published on Friday, May 8, 2020 | Updated on Monday, May 11, 2020

U.S. | Pandemic wipes out decade of job gains

With 30M people filing for unemployment insurance since March 21st, the precipitous drop in nonfarm payrolls of 20.5M was not a surprise. However, the drop in employment over the past two months has all but erased the job gains since February 2011.

Key points

  • Key points:
  • The labor force participation rate decreased to 60.2% while the employment-to-population fell to 51.3%
  • In terms of the industry impact, retail trade (-2.1M), healthcare and social assistance (-2.1M) and leisure and hospitality (-7.7M) lost a combined 11.8M jobs, or around 58% of the total job losses

Geographies

  • Geography Tags
  • USA

Topics

Has this information been useful?

New comment

Be the first one to add a comment

Load more

You may also be interested in