The COVID-19 outbreak that hit the world is believed to have affected the world’s labor market. Not apart from one of the countries with the strongest economy in the world, the United States was affected. The data published by International Labour Organization (ILO), reveal that the unemployment rate around the world is increasing. In 2019, before the COVID-19 outbreak, the unemployment rate around the world is 5,373%, then, in 2020 or after the COVID-19 outbreak, the data reveal the unemployment rate is at 6.471%.
While in the United States, at the end of 2019, the unemployment rate is at 3,6%, just about four months, the unemployment in the United States is increasing 11,2%, based on the US Bureau of Labor Statistics. April 2020 is one of the worst times for the labor market in the United States, where unemployment hit the highest rate.
As time goes by, the United States is known to be recovering from the economic recession due to COVID-19. It is known based on the US Bureau of Labor Statistics that in September 2021 the unemployment rate is at 4,8%.
Based on those data, United States President, Joe Biden, announced via Twitter.
“For the first time since March 2020, the unemployment rate is below 5%. We still have more work to do, but recovery is moving forward even in the face of a pandemic.” Joe Biden tweet.
However, there are still concerns around the United States that are still related to the COVID-19 outbreak, which at any time can still be a threat to the labor market in the United States. this is because variants of covid are still appearing until this news is published.