2,500,000 jobs-plus, a 13.3%unemployment rate

By Calculated risk 6/05/2020 08:47:00

From the BLS:

Total non-farm salary employment growth 2. 5 million, and the unemployment rate
Down to 13. 3%
The United States Bureau of Labor Statistics reported today. These
Improvements in the labor market reflect a limited recovery in economic activity
This has limited in March and April due to Cov(COVID-19)pandemic
And efforts to curb it. In May, the employment of a sharp rise in leisure and hospitality,
Construction, education and health services and retail trade. By contrast, employment
The government continues to sharply decline.

Change in total non-farm salary employment was revised lower 492,000,
From-881,000 and back down to 1.4 million, and the change for April revised down by 150,000,
From-20.5 million-20.7 million dollars. With these amendments, in March and employment
April merger is 642,000 lower than previously reported
Emphasis added

The same period last year change in employmentClick to view a larger image.

The first graph shows the year by year change in total non-farm employment since 1968.

In December, year after year change-17.665 million jobs.

Total employment increased by 2. 5 million.

Employment number of March and April were revised lower 642 million combined.

Employment of the recession, the horrible job chartThe second graph shows the job losses from the start of the employment recession, in percentage terms.

The current employment recession is by far the most serious recession since the Second World War in percentage terms, and the worst aspects of unemployment.

The third graph shows the employment population ratio and participation rate.

Employment of prevalence, participation rate and unemployment rate
Labor force participation rate increased to 60. 8 per cent. This is the percentage of the working age population in the labor force.

Employment-to-population ratio increased to 52. 8%(black line).

I’ll post the 25 to 54 age group employment-to-population ratio graph later.

The unemployment rateThe fourth graph shows the unemployment rate.

The unemployment rate fell to 13. 3%.

This is above consensus expectations of 8,250,000 work lost, but March and April were revised lower by 642,000 combined.

It was an amazing jobs report since all the other data pointed to more job losses possible. I’ll have more later…

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