47% of THE AMERICAN POPULATION IS JOBLESS! MUCH WORSE THAN GREAT DEPRESSION!

  • 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.
  • As the coronavirus-induced shutdown 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.
  • “To get the employment-to-population ratio back to where it was at its peak in 2000 we need to create 30 million jobs,” said Torsten Slok, Deutsche Bank’s chief economist.
  • Investors will look to this week’s June jobs report for an update on the pace of the labor market recovery.

www.cnbc.com/2020/06/29/nearly-half-the-us-population-is-without-a-job-showing-how-far-the-labor-recovery-has-to-go.html