BLS Reports 14.7% Increase in the Unemployment Rate

  • May 09, 2020 AEST
  • Team Kalkine

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

 

 

 

 


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