U-6 Unemployment Rate Spikes To 22.8% As Average Hourly Earnings Spikes To 7.9% YoY

A sign of the times. As governments around the globe shut down economies to prevent the spread of the Covid-19 condition.

The US unemployment rate rose to 14.7% in April, up from 4.4% in March.

ecojons

Yes, 20.5 millions jobs were lost in April.

unwmplirec

The U-6 unemployment rate (or full-time plus partial unemployment rate) rose to an astronomic 22.8%!

u6228

Average hourly earnings YoY rose to 7.9% YoY.

ahe

But look at the US employment total in labor force. Covid-19 / gov’t shutdown has wiped out labor force gains since 1999 and The Clinton Administration.

laborforceclinton

I wish I knew a place that was open in Virginia, but I don’t.

milton

 

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