Jun 30, 2020 - Economy & Business

Almost half of the U.S. population does not have a job

Dion Rabouin, author of Markets
Expand chart
Data: Bureau of Labor Statistics; Chart: Axios Visuals

The percentage of Americans who are employed sits at just over 50%, according to the Bureau of Labor Statistics' employment-population ratio. The figure plunged to 51.3% in April (the lowest level on record) and edged up to 52.8% in May.

The backdrop: The ratio was as high as 61.2% in January, but has fallen precipitously since coronavirus-induced lockdowns shuttered businesses across the United States.

  • The measure reached its peak in April 2000 when 64.7% of eligible American adults were employed.

What it means: While the BLS' jobs report categorizes people as "employed," "unemployed" or "out of the labor force," the employment-to-population ratio simply captures those who are and are not employed.

The intrigue: Torsten Sløk, chief economist at Deutsche Bank Securities notes, “To get the employment-to-population ratio back to where it was at its peak in 2000 we need to create 30 million jobs."

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Dion Rabouin
Jul 29, 2020 - Economy & Business

PPP may have only saved about 13.6 million jobs, not 51 million

Illustration: Eniola Odetunde/Axios

The Paycheck Protection Program (PPP) used $520 billion worth of taxpayer funds to save around 13.6 million jobs, according to estimates of available data from S&P Global U.S. chief economist Beth Ann Bovino.

Why it matters: That comes out to $38,235 per job over an eight-week period.

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Zachary Basu, Ursula Perano
Updated 29 mins ago - Politics & Policy

Ohio Gov. Mike DeWine tests positive for coronavirus ahead of Trump visit

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine (R) has tested positive for COVID-19 and plans to quarantine at his home for the next 14 days, his office announced Thursday. He currently has no symptoms.

Why it matters: The 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol. He is the second governor known to have contracted the coronavirus, after Oklahoma Gov. Kevin Stitt (R).

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Axios
Updated 33 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 12:30 p.m. ET: 18,860,908 — Total deaths: 708,676— Total recoveries — 11,394,821 — Map.
  2. U.S.: Total confirmed cases as of 12:30 p.m. ET: 4,834,546 — Total deaths: 158,445 — Total recoveries: 1,577,851 — Total tests: 58,920,975 — Map.
  3. Politics: Pelosi rips GOP: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Fauci says task force will examine aerosolized spread.
  5. Business: July's jobs report could be an inflection point for the recovery — Teladoc and Livongo merge into virtual care giant.
  6. Sports: Where college football's biggest conferences stand on playing.
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