Employment improved by 4.8 million in June and the overall unemployment went down to 11.1%. These improvements are attributed to rolling back of economic restrictions in many states that allowed businesses to reopen. The Covid-19 Pandemic caused a dramatic loss in employment in the months of March and April.
Leisure and Hospitality
The leisure and hospitality industry was roughly 40% of the employment increase that occurred during the month of Jun. After losing 8.3 million jobs in March and April, May saw the return of 2.1 million jobs. Food Service are currently down 3.1 Million since February.
Construction jobs bounced back by 158 thousand after losing 1.1 million in the months of March and April.
Education and Health Services
Healthcare jobs increased by 568 thousand after losing 1.6 Million in the months of March and April. The Education and Health industry is currently down 1.8 Million from February.
Retail added back by 740 thousand after losing 2.4 million in the months of March and April. Auto dealers increased by 84 thousand, general merchandise stores increased by 108 thousand, clothing stores increased by 202 thousand. The Retail industry is currently down 1.3 Million from February.
Manufacturing increased 356 thousand jobs after losing 1.4 million in the previous months. The manufacturing industry is currently down 757 Thousand since February.
Race and Gender
The employment issue is not being felt evenly across all demographics.
The rate was 10.2% for adult men,11.2% for adult women, 23.2 for teenagers, 10.1% for Whites, 15.4% for Blacks, 13.8% for Asians, and 14.5% for Hispanics. The total number of people on temporary layoff decreased to 4.8 million.
This is a positive step as some of the job layoffs that were due to furloughs or other temporary measures are returning. The expectation is that once the more companies go back to work we could see an even bigger rebound. We are all eagerly awaiting an end to Covid-19 and it's impact on the the economy.
Statement from Bureau of Labor Statistics
"Data collection for both surveys was affected by the coronavirus (COVID-19) pandemic. This news release presents statistics from two monthly surveys. The household surveymeasures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry."
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