On 8 May 2020, a report released by U.S. Bureau of Labor Statistics reported an increase in the unemployment rate by 14.7%. The change in the unemployment was seen sharply across all the major industry sectors. However, the major job losses were from the leisure and hospitality.
BLS’s Employment Survey Data Highlights:
|
Sector/Industry |
% Change in Employment In April |
|
|
|
|
Total Nonfarm Payroll Employment |
Dropped 20.5 million in April, post falling by 870K in March. |
|
Leisure & Hospitality |
Declined by 47%. |
|
Education & Health Services |
Dropped by 2.5 million |
|
Professional & Business Services |
Dropped 2.1 million jobs |
|
Retail Trade |
Fell by 2.1 million. |
|
Manufacturing |
Dropped by 1.3 million |
|
Other Services |
Declined by 1.3 million |
|
Government Services |
Dropped by 980,000 |
|
Construction |
Fell by 975,000 |
|
Transit & Ground Passenger Transportation |
Lost 185,000 jobs |
|
Air Transportation |
Lost 141,000 jobs |
|
Wholesale Trade |
Shed 363,000 jobs |
|
financial activities |
plummeted by 262,000 |
