ABSTRACT

Unemployment Rates During the COVID-19 Pandemic [Updated June 15, 2021]   [open pdf - 3MB]

From the Introduction: "This report discusses the state of the U.S. labor market using data from the Bureau of Labor Statistics (BLS). The three primary sources are the Current Population Survey (CPS), the Local Area Unemployment Statistics (LAUS) program, and the Current Employment Statistics (CES) program. In addition to the usual caveats about estimates (see the 'General Data Caveats' section), there were additional data challenges caused by the COVID-19 pandemic (see the 'COVID-19 Pandemic-Related Data Issues' section). [...] This report generally finds the following: [1] The unemployment rate peaked10 in April 2020, at a level not seen since data collection started in 1948, before declining to a level in May 2021 that still remained 2.3 percentage points above the rate observed in February 2020. [2] In April 2020, the labor force participation rate declined to levels not seen since the early 1970s. Labor force participation has improved since then to 61.6%, which remains 1.8 percentage points below its pre-recession level. [3] Nonfarm payrolls shed 22.1 million jobs between January 2020 and April 2020. In May 2021, aggregate employment remained 7.3 million jobs below its pre-recession level."

Report Number:
CRS Report for Congress, R46554
Author:
Publisher:
Date:
2021-06-15
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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