Employment Report for Nov 04, 2024
Unemployment is the fraction of willing and capable workers that are not working. While we know that the COVID pandemic caused millions to become unemployed (resulting in claims for unemployment insurance), many have not returned to the workforce while remaining concerned for their health. This point affects the “willing” portion of the previous statement, meaning that this segment of the population has not returned to the labor force, but may potentially be continuing to file unemployment claims as they may be trying to find jobs above their capabilities, or reach for preferable compensation packages (including working conditions).
US Employment Rate