the-regional-breakdown-of-a-labor-market-in-meltdown

The Regional Breakdown Of A Labor Market In Meltdown

Date: 26 May, 2020 | By : 

Employment fell in all 50 states and 43 states saw their unemployment rate rise to a record in April. The damage is already hard to fathom-a 28% unemployment rate in Nevada and still another month of job losses ahead.

With 20.5 Million Job Losses, There is Nowhere to Hide 

  • There was no escaping the economic carnage resulting from the shutdowns implemented in March and April to contain  COVID-19.  All 50 states posted significant job losses in April.
  • The leisure & hospitality sector accounted for the largest share of job losses, with employment down around 45% in most states. Parts of the country with out sized tourist sectors, like Nevada, Hawaii and Florida, saw some of the nation’s largest job losses.

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