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What was the job market like in 2008?

What was the job market like in 2008?

Reflecting the employment decline in 2008, the employment- population ratio also fell during the year, from 62.8 percent in the fourth quarter of 2007 to a fourth-quarter 2008 figure of 61.3 percent, the lowest ratio since the first quarter of 1987, when it was 61.1 percent.

Was there a lot of unemployment in 2008?

In December, the number of unemployed persons increased by 632,000 to 11.1 million and the unemployment rate rose to 7.2 percent. The number of long-term unemployed (those jobless for 27 weeks or more) rose to 2.6 million in December and was up by 1.3 million in 2008. …

What was the unemployment rate at the end of 2008?

Unemployment rate rises to 7.2%. NEW YORK ( — The hemorrhaging of American jobs accelerated at a record pace at the end of 2008, bringing the year’s total job losses to 2.6 million or the highest level in more than six decades.

What’s the average number of jobs added in a month?

On average, this sector adds over 30,000 jobs a month. It remained a strong performer even during the recession. Employers seem to be adjusting to Trump’s changes to health care. Leisure and hospitality gained 51,000 jobs. The sector typically adds from 20,000 to 30,000 positions a month. The government gained 45,000 positions.

How many jobs did the US gain in February 2019?

Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. She writes about the U.S. Economy for The Balance. The U.S. economy gained 273,000 jobs in February 2019, according to the U.S. Bureau of Labor Statistics. 1  There were strong jobs gains across the board.

Are there job gains in the first quarter of 2021?

Gains during the first quarter of 2021 have made a small dent in the job losses. The leisure and hospitality industry added 280,000 jobs in March. This is after losing more than 5.7 million jobs between March 15 and April 18, 2020. The sector typically added 5,000 to 40,000 jobs before the pandemic. 4