Deep Dive in May COVID Job Losses and Gains

Since the COVID Event started, The US has had over 42M unemployment claims and lost 17.7 million jobs. Both numbers are interesting to follow. Keep in mind that when a person goes back to work, the unemployment stops, but they are still tallied in a previous week’s unemployment Typically the unemployment claims and job losses/gains move in a tightly coupled manner. We do not expect to see that for a while. In May we had 9.6M Unemployment claims and added 2.27M jobs back. While 2.27 sounds good, we are still down 17.7M jobs since February. Take the good news [...]

Additional Insight into Corona Virus Related Job Losses

Since the Corona Virus Event started, The US has had over 33 million unemployment claims and lost 21.2 million jobs. First, a quick primer on why the is a 12 million difference between the unemployment claims and job losses. Unemployment claims are a hard tally. Someone had to personally file a claim to get counted. Job losses is a statistical sampling done by the Department of Labor. It relies on companies revealing their interpretation of the job loss. A furloughed job may not count as a loss. The two typically move close in tandem. Not so when there is [...]