August Unemployment Rate

Financial News: The Bureau of Labor Statistics has released the August 2020 unemployment rate. It is 8.4%.

Unemployment rate by month since March 2020,

Month Unemployment Rate
March  4.4%
April 14.7
May 13.3
June 11.1
July 10.2
August  8.4

 

From April 2020 through August, 2020 the United States has seen a 6.3-point decrease in unemployment rate. There will be one more monthly unemployment rate report posting on October 2, 2020 for September before the Presidential election on November 3, 2020.

With many states not lifting restrictions on restaurants until November 4, 2020, I do not see much more of an improvement when the September numbers come out. One example is my state of Pennsylvania. Restaurants were originally restricted to 50% occupancy. Recently, a new restriction was put in place on restaurants restricting operation to 25% occupancy.

Looking at the five boroughs of New York City, no inside dinning is allowed in any restaurant. Only outside seating and take-out.

As reported by the New York Post,

De Blasio’s suggestion that eating inside a restaurant is only for people with thick billfolds ignores the thousands of cheap diners, fast-food eateries and pizza joints across the five boroughs catering to cost-conscious New Yorkers.

The Post also reports that,

Over half of the [NYC] industry’s 300,000 workers are currently unemployed.

Add to this equation, restaurant workers in other Progressive states that will be left out in the cold till November 4, 2020.

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By Published On: September 4, 2020Categories: News and Links3 Comments on August Unemployment Rate

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About the Author: johnyMac

3 Comments

  1. Ralph k September 4, 2020 at 13:10

    If I may correct you,

    five boroughs of NYC.

    Interestingly, no restaurant alive can survive with 25% occupancy. This is an intentional effort to create more financial distress in an effort to get rid of Trump, thinking people will blame him. Just like their policy of condoning riots, defunding the police, etc. People know better. More and more, I believe they’re is going to be a groundswell of support for him and a landslide victory of untold proportions that even with massive fraud and lies, demoncrats cannot suppress his coming victory. But still, we must harden ourselves and prepare for the backlash that will ensue afterwards. It is coming.

    • johnyMac September 4, 2020 at 14:12

      Thank you Ralph K. \”/

      Oh I agree with you 100% that it is political. Restaurants, hair salons, gym’s, etc. are easy to control by the state because the state controls licenses.

      Take care Brother

  2. Anonymous September 4, 2020 at 13:45

    5

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