Employment report in april fully: U.S. employment plummeted by more than 20 million in April, fully reflecting the impact of pneumonia
The US employment report in April fully reflected the lethality of the new coronary pneumonia epidemic on employment. The number of non-agricultural employment dropped sharply by 20.5 million. Figure / Associated Press
The US employment report in April fully reflected the lethality of the new coronary pneumonia epidemic on employment. The number of non-agricultural jobs dropped sharply by 20.5 million, and the unemployment rate jumped to 14.7%, but both were slightly better than market expectations of a reduction of 22 million and a 16% unemployment rate. Economists pointed out that this may be the highest peak of the epidemic’s impact on employment; it is expected that the number of employees will drop further in May, but it will be milder than in April.
The main data of the employment report are as follows:
1. In February and March, the total number of non-agricultural employment decreased by 214,000.
2. The average hourly wage rises sharply by 4.7%, far exceeding the market estimate and the 0.3% increase in March; the annual hourly wage rises by 7.9%, which is much higher than the market estimate of 3.3% and March’s 3.1% increase . The average person’s working hours per week is 34.2 hours, which is better than the estimated 33.5 hours, which is the same as in March. Experts pointed out that the sudden increase in average hourly wage may be due to the unemployment of a large number of low-wage workers.
3. The unemployment rate soared to 14.7%, slightly better than the market’s expected 16%, but the unemployment rate is expected to rise further in May. The labor force participation rate has fallen sharply to 60.2%, which is lower than the estimated 61% and 62.7% in March, indicating that the willingness of Americans to find work has not decreased significantly.
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