COVID-Impacted Sectors Recovery Outlook
Substantial Progress Towards Full Employment
More than 25 million jobs were lost due to the pandemic between February
and April 2020, but the economy has since recovered 20 million jobs (~80%)
Current vs Pre-Pandemic Employment Summary (numbers in millions):
Feb-20
Sep-21 Difference
158.7
153.7
(5.1)
Total employed in labor force
Unemployed in labor force
5.7
7.7
2.0
Headline U-3 unemployment rate
3.5%
4.8%
1.3%
1
U-6 unemployment rate
7.0%
8.5%
1.6%
Total civilian labor force
164.4
161.4
(3.1)
Labor force participation rate
63.3%
61.6%
Total civilian non-institutional population (16+)
259.6
261.8
2.1
Employed / Population
61.1%
58.7%
Total employment is only five million jobs lower today than its pre-pandemic level in February 2020
Source: Bureau of Labor Statistics
(1)
U-6 unemployment rate represents total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor
force plus all persons marginally attached to the labor force
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