Almost 50 per cent of the US population is unemployed
Considering the US population, the numbers have been very dismal, indicating that we have a very long road to recovery which will take years. As the lockdowns had a grave effect on the labor market, the share of employed people soared to a record high of 61.2 per cent early this year. To get things ...
Can a strong job market reduce racial inequality?
According to US Fed CHair Jerome Powell, if the US labor market can go to back to its pre-COVID state, it could help in reducing racial inequality. Although he dodged questions about whether or not the Feds add to the issue, Powell talks about how racial disparities are a routine part of work now. ...
The blaring error in the May jobs report
The nation received the news released by the Bureau of Labor Statistics with great joy as 2.5 million jobs were added to the economy in May, a figure which even the most optimistic economists hadn't predicted. Despite all the red flags, we were eager to accept this news, however, there has been a h ...
3.1 million jobs added in June
Despite thousands of Americans still getting layoffs and furloughs, the labor market has truly been a paradox as the Labor Department released that a record 3.1 million jobs were added in June bringing the unemployment rate down to 12.3 per cent from 13.3 per cent. Economists predict that the road ...
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