Void sticker in the Job Report 2020

Aug 6th, 2022
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How to void sticker in the Job Report 2020

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JUDY WOODRUFF: As we reported, the latest jobs data showed docHub growth across different sectors of the economy, a promising sign of recovery in the wake of the COVID-19 Delta variant surge. Amna Nawaz explains. AMNA NAWAZ: Thats right, Judy. Not only did the government report stronger-than-expected gains last month, but it also found more jobs were created in August and September than had been previously estimated. Last month, the private sector picked up momentum, with the leisure and hospitality sector adding 164,000 jobs. The professional business sector grew by 100,000, manufacturing by 60,000 more jobs. Joining us from Chicago to explain what this means is Diane Swonk. Shes the chief economist at Grant Thornton. Thats a financial services firm. Diane, welcome back to the NewsHour. Thanks for being with us. I wonder, big picture, you see these job numbers growing, unemployment dipped slightly. Overall, when you look at these, where are the picture

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Total employment, as measured by the household survey, rose by 3.8 million in May to 137.2 million, following a large decline in April. After an 8.7 percentage- point decline in April, the employment-population ratio rose by 1.5 percentage points to 52.8 percent in May.
The unemployment rate in April 2020 increased by 10.3 percentage points to 14.7 percent. This is the highest rate and the largest over-the-month increase in the history of the data (available back to January 1948). The number of unemployed persons rose by 15.9 million to 23.1 million in April.
In February 2020, the unemployment rate was 3.5 percent, and the number of unemployed people was 5.8 million. Both these numbers were little changed from January. The percentage of the unemployed who had been jobless for 27 weeks or more was 19.2 percent in February 2020.
The unemployment rate increased in 2020, surging to 13.0 percent in the second quarter of the year before easing to 6.7 percent in the fourth quarter.
In April 2020, the official unemployment rate was a staggering 14.8 percent.
Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent, the U.S. Bureau of Labor Statistics reported today.
The unemployment rate peaked at an unprecedented level, not seen since data collection started in 1948, in April 2020 (14.8%) before declining to a still- elevated level in February 2021 (6.2%) relative to February 2020 (3.5%).
This report shows the following: The unemployment rate peaked at an unprecedented level, not seen since data collection started in 1948, in April 2020 (14.8%) before declining to a still- elevated level in February 2021 (6.2%) relative to February 2020 (3.5%).

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