Thursday, June 8, 2023
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Most workers displaced by pandemic to return to work by 2022

(Bloomberg) – By January, nearly two-thirds of U.S. workers who lost long-term jobs during the pandemic had returned to the labor force, underscoring a rapid recovery in the labor market.

Some 65% of so-called unemployed workers – those who have worked for at least three years but have worked because of a company closing or being fired or left Deficiency – According to unemployed persons from between 2019 and 2021 who were re-employed before 2022, according to from the Bureau of Labor Statistics released Friday. The report shows that 3.6 million Americans are displaced, more than 900, 000

The labor market remains a bright spot in an otherwise faltering economy. The U.S. total employment returned to pre-pandemic levels last month, and the unemployment rate was at a 50 year low.

That is to say, it is difficult for older workers to get back to work. At least 15 years of reemployment decline percentage points from the 2020 survey, the percentage that is no longer in the labor force has increased 15 percentage points to 61%.

Leisure and hospitality workers as a percentage of 848 all displaced persons in the survey, up from 5% previously. Professional and business services, manufacturing and education, and health services were also among the hardest hit industries.

Reemployment rates fell significantly in leisure and retail, reflecting the slower recovery in these industries from the pandemic, the BLS said.

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