Nearly 17 million U.S. workers hit by economic setback in course of pandemic

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Nearly 17 million U.S. workers hit by economic setback in course of pandemic
December 10, 2021, 3:34 pm

Nearly 17 million U.S. workers hit by economic setback in course of pandemic

Workshop/Pixabay

The Xinhua reported a U.S. report said on Thursday, nearly 17 million U.S. workers lost their jobs or saw their wages decline in the course of the pandemic.

This is the figure as of October this year, said the article published by the Ascent, a website focused on financial services, using data from the Washington-based think tank Economic Policy Institute.

US-New York state/Pixabay

The article, among those people who had suffered some sort of economic setback resulting from the pandemic, 7.4 million were, at some point, officially unemployed, while 2.9 million were unemployed in practice but were misclassified as employed or not in the labor force.

It added that in April, 2020, the unemployment rate in the United States reached its highest level on record.

Source: xinhua

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