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Unemployment rates in US during COVID-19

Economics Asked by Anonymous M on July 20, 2021

Does the COVID-19 pandemic affect the unemployment rate in US?

One Answer

Yes it does. In fact large portion of current US unemployment can be attributed to the pandemic.

According to U.S. Bureau of Labor Statistics (BLS):

Of the 18.1 million people unemployed in June, 11.4 million (63 percent) were unable to work because their employer closed or lost business due to the pandemic. Among the unemployed, the vast majority of those on temporary layoff in June were unable to work because of the pandemic (83 percent). This was much higher than the share for unemployed job seekers (34 percent), a category that includes permanent job losers and people reentering or newly entering the labor force.

Answered by 1muflon1 on July 20, 2021

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