U.S. May Unemployment Rate Falls to 13.3%

Total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate fell to 13.3 percent. These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic.

Survey: U.S. Workers Have Lost $1.3 Trillion in Income During Pandemic

New research released by SHRM (Society for Human Resource Management) and Oxford Economics puts a price on the economic pain inflicted by COVID-19, as U.S. workers have lost an estimated $1.3 trillion – roughly $8,900 per worker. Notably, 20 percent of this loss represents earnings of those who remain employed, suggesting job-losses alone are an incomplete account of COVID-19's impact on workers.