Abstract: Due to the continuous fermentation of the epidemic, in order to prevent and control, a large range of closed isolation measures have been adopted, which also leads to the stagnation of commercial activities, which has a huge impact on the economy. Secondly, the layoffs caused by economic pressure and bankruptcy caused by the enterprises have caused a large decrease in the US employment population and a sudden increase in the number of unemployed.

Yijin.com May 9th Due to the continuous fermentation of the epidemic, in order to prevent and control, a large range of closed isolation measures have been adopted, which also led to the stagnation of commercial activities, which has a huge impact on the economy. Secondly, the layoffs caused by economic pressure and bankruptcy caused by the enterprises have caused a large decrease in the US employment population and a sudden increase in the number of unemployed.Overnight, the latest data released by the US Bureau of Labor Statistics showed that the number of employed persons decreased by 20.5 million in April. The data was better than expected. Economists had expected that the number of unemployed persons would reach 22 million. , Although the job market has clearly weakened due to the new coronary pneumonia epidemic. At the same time, the unemployment rate rose to 14.7%. According to general market predictions, economists expect about 16%.

Overnight, the latest data released by the US Bureau of Labor Statistics showed that the number of employed persons decreased by 20.5 million in April. The data was better than expected. Economists had expected that the number of unemployed persons would reach 22 million. , Although the job market has clearly weakened due to the new coronary pneumonia epidemic. At the same time, the unemployment rate rose to 14.7%. According to general market predictions, economists expect about 16%.

In terms of salary, the report said that the average hourly income increased by $ 1.34 to $ 30.01. Last month's wage increase rose 4.7% month-on-month, and economists had expected wages to increase by 0.5%. However, the report pointed out that wage growth is not a positive factor for the labor market. Because this may reflect that low-income people are losing a lot of money.

However, many analysts believe that in fact, this non-agricultural report did not fully show the full picture of the job market affected by the epidemic. For example, the labor market participation rate has dropped from 63.4% in March to 62.7%, and has now dropped to 60.2%. This means that the unemployment rate tends to rise. More accurate assessments include U-6, the 'real unemployment rate'-which has risen to 8.7% in March and is now 22.8%-and the broadest measure, the employment-to-population ratio, which was 60 in March %, Now only 51.3%.

In fact, the April non-farm employment data set a very bad record. But what is surprising is that among the employees surveyed by the government, nearly four-fifths believe that the layoffs are temporary.

The number of employees who think they are temporarily unemployed has increased from 18.4 million in March to 18.06 million. These interviews are part of a household survey of about 23 million unemployed people, including those who were unemployed in April.

"This is a good way. The market may react to this. If you see them become permanent, that's a problem," said John Briggs, head of strategy at National Westminster Bank.

Michelle Meyer, head of the US economic department at Bank of America, said that in a bleak report, a large number of temporary layoffs brought "a silver lining".

"Since 78% of people are classified as temporarily unemployed, workers should be able to be rehired more seamlessly when they reopen. But time is of the essence," she wrote in a report.

The unemployment rate soared to 14.7% in April. Those who have indicated that they are on temporary leave are expected to return to work within 6 months, which may be a good sign for the economy.

Economists at Goldman Sachs wrote: "In the past 50 years, of the three recessions with the highest percentage of temporary layoffs, the job market has recovered the fastest."

However, Goldman Sachs also added that although Goldman Sachs expects the number of unemployed in the non-agricultural report in April to be higher, the US Bureau of Labor Statistics clearly has difficulty in estimating the exact number of unemployed. Even by the end of 2021, the United States will still see the “traces” brought about by this decline in employment, even if by then it has reversed the “most” deterioration.