Industry Insights

August 2020 Unemployment Update

By: JobGet
Sep 15, 2020 • 2 min read

The Bureau of Labor Statistics has released the latest numbers on August unemployment rates. The JobGet team has compiled a detailed report and analytics to share essential information with you on the latest data.

After four months of double-digit unemployment figures, the US unemployment rate fell to single-digit territory at 8.4% in August. 1.4 million people were newly employed as we hopefully climb back towards pre-pandemic rates.

Although unemployment has trended downwards, the majority of the unemployed individuals have also been out of work for more than 15 weeks. One alarming signal is that permanent job losses went up by more than 17% in August from 2.9 million to 3.4 million. This has risen 161% from 1.3 million at the start of the year.

For additional details, check out our monthly unemployment report below:

JobGet Unemployment Report August 2020

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