The Ministry of Labor emphasized that the gradual reintegration of people into the labor sector during the pandemic phase is currently not enough to reduce the annualized unemployment rate before the crisis. This is due to a 3.5% drop in covid-19 in February 2020.
Washington (in favor)?? The US Department of Labor announced that 266,000 people were reintegrated into the country’s labor sector in April last year, while the national unemployment rate was 6.1%.
The Bureau of Labor Statistics of the Department of Labor pointed out that last month’s new labor data was lower than expected by the US stock market and the federal government itself.
The Department of Labor pointed out that the covid-19 pandemic continues to have a negative macroeconomic impact on the labor situation in the United States, which has left 9.8 million people unemployed.
The administration of US President Biden stated in detail that in the fourth month of 2021, 266,000 new jobs will be created among the workers employed by the hospital industry, service sector, and local government.
The Ministry of Labor emphasized that the gradual reintegration of people into the labor sector during the pandemic phase is not enough to reduce the annualized unemployment rate before the covid-19 crisis in February 2020. The unemployment rate was 3.5% and the number of unemployed was 5.7 million.
However, the Biden administration insists that with the implementation of the national economic recovery plan, the unemployment rate will drop with the financing of US$1.9 billion.
They restored 266,000 jobs in April last year, which is in sharp contrast to the 916,000 in March this year. Therefore, the stock market’s reaction to the news is pessimistic about the overall recovery after the pandemic subsides.
According to the labor forecast for the fifth national vaccination campaign against covid-19 this year, the campaign allows enterprises and small and medium-sized companies to be reopened, so at least one million people will be reintegrated into the labor market.