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Nearly Half the US Population Is Without A Job
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July 2, 2020 | ECONOMY | Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus. The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of the population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000. This ratio is a broader look at the employment picture. It takes into account adults not in the labor force and captures those who were discouraged about the prospects of finding a job, whereas the unemployment rate looks at people actively looking for a job… CNBC
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