Unemployment rate in the US continues to fall

According to statistics, this indicator stood at 6.7 % in November, which represents improvement rates after the fall shown in April

The unemployment rate in the United States experienced a decline of two tenths in November, to stand at 6.7 %, so the country’s labor market continued its recovery for the seventh consecutive month after the impact of Covid-19.

The economic reactivation of the country has been slowing down with the passage of each month, so that in November only 245,000 jobs were created, after 610,000 in October. Since May, the country has recovered 12.1 million jobs.

In this way, the unemployment rate continues to move away from the historical highs that it reached in spring and summer, of up to 14.7 %. In October 2009, the peak of the global financial crisis that began in 2008, the unemployment rate in the United States reached 10 %, while the historical maximum until this year was in December 1982, when it reached 10.8 % .

The number of long-term unemployed, those who have been unemployed for a minimum of 27 weeks, rose to 3,941 million people, which is equivalent to an increase of 385,000 unemployed. This large increase is due to the fact that between October and November nearly 27 weeks have elapsed since April, when most of the layoffs took place. The weight of the long-term unemployed with respect to the total number of unemployed increased 4.4 percentage points, to 36.9 %.

K. Tovar

Source: ABC

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