Jobs & Unemployment
Of the 4.4 million people who left the labor force between February and September, 60% were women.
The unemployment rate dropped in September, but fewer people are in the labor force.
The unemployment rate has dropped in every month since hitting a high of 14.7% in April, according to the Bureau of Labor Statistics. In September, the rate was 7.9%. While the falling economic indicator is a good sign for the economy, it only considers those people in the labor force who have jobs or are seeking jobs.
In April, the labor force participation rate, the percentage of people 16 or older looking for jobs or already employed, was 60.2%, the lowest level since 1971. It since increased to 61.7% in August and dropped to 61.4% in September. Whether this decrease is a one-time occurrence or a signal that the pandemic's economic recovery will not be swift remains to be seen, but the labor force statistics are well below where they were in February before the effects of the pandemic. Between February and September, the number of working-age people not in the labor force increased by 5.5 million. Additionally, the number of people in the labor force decreased by 4.4 million.
The economic situation is affecting the job status of women more than men. Women account for 2.6 million, or 60% of the drop in the number of people in the labor force. Women also account for 3.1 million or 58% of the group not in the labor force.
For more information on jobs and unemployment in the US, check out this report.
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