I came across an article on US unemployment written today on CNBC with a byline of Yun Li.
From the article:
"Nearly half of the adult population is still out of a job, showing just how far the U.S. labor market has to heal in the wake of the corona virus.
The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.
Meanwhile, the jobless rate is expected to decline to 12.4% this month from 13.3% in May, according to Dow Jones. The unemployment rate doesn't capture those who stopped looking for a job. The labor force is about 60% of the U.S. adult population."
Great use of statistics. Does Yun Li think that every adult in America should have a job? Students, retirees, housewives, etc are all slackers! Although statistical correct, Li was definitely going for the shock value of "47.2% of Americans are jobless".
Makes me proud of social media news **
From the article:
"Nearly half of the adult population is still out of a job, showing just how far the U.S. labor market has to heal in the wake of the corona virus.
The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.
Meanwhile, the jobless rate is expected to decline to 12.4% this month from 13.3% in May, according to Dow Jones. The unemployment rate doesn't capture those who stopped looking for a job. The labor force is about 60% of the U.S. adult population."
Great use of statistics. Does Yun Li think that every adult in America should have a job? Students, retirees, housewives, etc are all slackers! Although statistical correct, Li was definitely going for the shock value of "47.2% of Americans are jobless".
Makes me proud of social media news **
