According to the U.S. Bureau of Labor Statistics, in August 2020, the employment rate rose by 1.4 million and the unemployment rate declined by 1.8 percentage points to 8.4 percentage and the number of unemployed persons fell by 2.8 million to 13.6 million.
The significant improvement in employment is due to the opening of the economy, which had been impacted by the pandemic. There areas that have seen a rise in employment are – retail, professional and business services, hospitality, education, and health services.
- Temporary layoffs decreased by 3.1 million to 6.2 million, in comparison to 18.1 million in April
- The number of permanent layoffs increased by 534,000 to 3.4 million, a rise of 2.1 million since February
- Unemployed reentrants to the labor force reduced by 263,000 to 2.1 million
In Canada, COVID-19 restrictions continue to ease, following the onset of the COVID-19 economic shutdown. Statistics Canada released the report on employment and unemployment.
- The number of people on temporary layoff reduced from 99,000 in February to 230,000 in August
- Employment rose by 246,000, i.e. +1.4% in August, compared with 419,000 (+2.4%) in July
- The unemployment rate fell 0.7 percentage points to 10.2% in August