2022 - ERB FINANCIAL

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Quick Recovery for Unemployment Rate

The U.S. unemployment rate skyrocketed to 14.7% in April 2020 when the economy shut down in response to the pandemic. This was by far the highest rate since the current tracking system began in 1948. Fortunately, employment has recovered at a record pace — the unemployment rate was just 3.6% in March, April, and May 2022, nearly the same as before the pandemic.

The official unemployment rate only reflects unemployed workers who are actively looking for a job. A broader measure that captures workers who want a job but are not actively looking, as well as part-time workers who want full-time work, dropped from 22.9% in April 2020 to 7.1% in May 2022.

Source: U.S. Bureau of Labor Statistics, 2022; National Bureau of Economic Research, 2022

 

Link to Printable PDF:    2022 07 July Newsletter

 

IMPORTANT DISCLOSURES

ERB FINANCIAL is an independent contractor who offers Investment Advisory Services & Securities through Excel Securities & Assoc., Inc. member FINRA, SIPC, 200 Canal View Blvd., Rochester NY 14623, 585-424-1234.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

This communication is strictly intended for individuals residing in the state(s) of NY. No offers may be made or accepted from any resident outside the specific states referenced.

 

Prepared by Broadridge Advisor Solutions Copyright 2022.

 

 

 

Filed Under: Articles, Economy, Recession

Call: (585) 426-8190

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Copyright 2019 - ERB FINANCIAL is an independent contractor who offers securities and advisory services through Excel Securities & Associates, Inc., 200 Canal Park Blvd, Rochester, NY 14623, 585-424-1234 • Excel Securities & Associates, Inc. and Erb Financial are separate entities; There is no common ownership between the two. Excel Securities & Associates, Inc. is a Member of [FINRA] and [SIPC]
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  • Home
  • About
    ▼
    • Our Company
    • Our Team
  • Tax
    Services
  • Investment
    Services
  • Resources
    ▼
    • Helpful Links & Websites
    • Financial Calculators
    • Tax Topics
    • Tax Preparation Checklist
    • Newsletters
    • Forms & Worksheets
  • Blog
  • Contact
    ▼
    • Contact Us
    • Driving Directions
  • broker