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In Aprilthe U. To put this in perspective, the second largest monthly job loss was about 2 million in Septemberwhen defense industries reduced production meet Newport RI guys the end of World War II.

The April unemployment rate spiked to Just two months earlier, it was 3. As we approach the end of a very difficult year, this might be a good time to look at the state of the jobs recovery so far and consider its future prospects. The headline unemployment rate for September was 7.

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The rate is moving in the right direction but has a long way to go, and the headline rate — officially called U-3 — is philippine dating Island KY always the best indication of the state of employment. The U-3 rate only measures those who are unemployed and have actively looked for work during the four weeks. By this measure, the unemployment rate in September was Perhaps the most striking s in the September employment report indicate that almost 1.

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The fact that so many women have stopped looking for work suggests they may be dropping out of the labor force to care for children attending school remotely or because they lack child care. Women are also more likely to work in meet native Anchorage AK men that have been especially hard-hit by the pandemic.

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Prior to Marchthe U. With the beginning of lockdowns in March, followed by the April collapse, more than 22 million jobs were lost over a two-month period. A little more than half of this total returned over the next five months, but that still leaves the economy down almost 11 million jobs, and the trend seems to be moving in the wrong direction.

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After almost 5 million jobs were added in June, the monthly totals declined quickly, and September saw a disappointing gain ofjobs — a great month during a healthy economy, but not nearly enough to catch up in the current situation. If job creation continues at that pace, it would take about 16 months to get back to pre-pandemic levels, and that may be optimistic. Different industries respond differently during any recession, but the pandemic has created big disparities that dating customs in latin Lexington KY led to large-scale layoffs.

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The leisure and hospitality industry has been hit the hardest, with total payrolls still down By contrast, payrolls in the financial industry are down just 1. Manufacturing is down 5. Employment in the retail industry is down only 2. Online retailers, which have flourished during the pandemic, added just 21, employees over the last three months, and payrolls are slightly below a year ago.

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In the near term, the employment picture will depend in large part on controlling the coronavirus. The October spike in cases going into the winter cold and flu season suggests that the return-to-work process may slow down. And although a vaccine might be approved by the end of free mature dating Waco TX year, it may not be widely available until mid While an effective vaccine could be a game changer, it will not instantly open businesses or return all employees to the same jobs they had before the pandemic.

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For example, the shift to online retailing, Atlantic City dating profile requires fewer employees, will likely continue. On the other hand, pent-up demand for travel and dining in restaurants could lead to a surge in hiring. In the best case, the pandemic might inspire changes that will strengthen the American workforce. In the long term, the jobs recovery could depend on innovation as much as a vaccine.

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This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose best dates in Henderson avoiding any federal tax penalties.

You are encouraged to seek guidance from an independent tax or legal professional.

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The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

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This material was written and prepared by Broadridge Advisor Solutions. The information and opinions found on this website have not been verified by our Firm, nor do we make any representations as to its accuracy and completeness. Toggle. Measuring Unemployment The headline unemployment rate for September was 7.

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