The US unemployment rate falls to 7.9% in the job market before the election. business – tech2.org

The US unemployment rate falls to 7.9% in the job market before the election. business


The US unemployment rate fell to 7.9% in September, the Labor Department announced in its last snapshot of the jobs market ahead of the presidential election on Friday.

Unemployment has fallen drastically since the coronavirus virus closed in the US in April, hitting a historical record of 14.7% in April. But the rate is still higher than 4.8% when Trump took office in January 2017 and the pace of recovery has been slowing recently. The current level has the worst job loss marks that any president has to face going to the polls based on the record of going back to World War II.

In the month of September, the US added just 661,000 jobs out of the 1.4m jobs added in August, a month that was boosted by the temporary recruitment of 238,000 people to conduct the 2020 census.

Nearly half of the jobs lost in the early months after coronovirus were hit in the US have now been recovered. But recovery in the job market is disproportionately benefiting white men, while young, women, Latino and black Americans continue to struggle to make up lost land.

Whites had an unemployment rate of 7% in September, compared to 12.1% for blacks and 10.3% for Latino. The teen unemployment rate was 15.9%.

Dedria Pera of Bernalillo, New Mexico, lost her job in telecommunications in August. Her unemployment benefits have been withheld because she is still believed to be employed to maintain her health insurance and cannot hold her through the state’s unemployment agency to let anyone overcome her dilemma.

For now, state regulations prohibit evictions and utility closures, but she is at risk of her car being repossessed and is struggling to withdraw her payments on rent and utilities.

“I’m donating plasma to my utilities and small payments to my landlord so that I won’t be far behind until I get a job,” Perissa said.

William Rodgers, a former chief economist at the US Department of Labor, and one of America’s foremost black economists, said the recovery of jobs seemed like a “plateau” and restrictions on how businesses operate were the latest outbreak. And the incoming flu. The weather may improve further.

Rodger, a professor and public economist at the Heldrich Center for Public Policy for Workforce Development at Rodgers University, said that the current situation would hurt minorities and especially young minorities the most.

“It’s a two-reality economy,” Rodgers said. “In this recession, inequality was at an all-time high, by many measures. One group has recovered financially and worked from home, while the other has suffered substantially, financially, and in terms of health. ”

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