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Covid Labor Day 7 September 2020 Sees a Sick Economy
The unemployment rate fell to 8.4%, down from 14.7% in April and 10.2 % in July (The so-called U-3 measure is people without jobs who must have looked for a job in the last four weeks). Any way you look at it joblessness is still higher than the peak of many past recessions. The real unemployment rate was 14.2% because it contains 535,000 discouraged workers. (This is U-6 or the real rate because it includes people who would like a better job. It also includes those who are underemployed and marginally attached.) Continue reading →