Entertainment U.S. April Unemployment 14.7%, Worst Since Great Depression: 20.5M Jobs Lost, 1.3M In Entertainment, Arts

16:11  08 may  2020
16:11  08 may  2020 Source:   deadline.com

Layoffs and pay cuts are now striking more white collar jobs

  Layoffs and pay cuts are now striking more white collar jobs Layoffs and pay cuts are now striking more white collar jobsNow, the record-setting flood of layoffs unleashed by the viral outbreak is extending beyond the services industries that bore the initial brunt and are still suffering most. White collar employees, ranging from software programmers and legal assistants to sales associates and some health care workers, are absorbing layoffs or salary cuts. So are workers in other occupations, like construction and real estate.

a group of people standing in front of a building © Shutterstock

Total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, the U.S. Bureau of Labor Statistics reported today.

The changes reflect the first full month report of the dramatic effects of the coronavirus (COVID-19) pandemic and efforts to contain it. Employment fell sharply in all major industry sectors, with particularly heavy job losses in leisure and hospitality. Employment fell in the arts, entertainment and recreation industry by 1.3 million, according to the monthly indicator.

The unemployment rate and the monthly increase (10.3 percentage points from the March data) are the largest in the history of the series, which started in January of 1948. The contemporary peak, however, was in 1933 at the height of the Great Depression, when unemployment hit 25%.

In the last recession, in 2007-2009, total jobs lost were 8.7 million and the unemployment rate peaked at about 10%.


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Corona Crisis: 39 Million Jobs Destroyed in the USA .
Millions of US citizens once again applied for unemployment benefits in a week. Never before have so many people lost their jobs in such a short time as during the current pandemic. © John Locher / dpa In the United States, the number of unemployed as a result of the corona crisis has increased significantly in the past few days: In the week up to May 16, more than 2.4 million people made an initial application for unemployment benefits, like the US - Government announced.

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