It’s no secret that the COVID-19 pandemic has wreaked havoc on the nation’s economy. Amid shutdowns designed to curb the spread of the novel coronavirus, the national unemployment rate has skyrocketed to 14.7%, and just last week, a survey of small business owners found that more than half of these establishments may not be able to last another six months with the current level of aid available.
These dire numbers, however, are not limited to the private sector.
The federal Bureau of Labor Statistics’ April employment report (which can be reviewed in full below) reveals a staggering loss of jobs in the local government sector. While federal and state employment numbers have remained largely untouched to date — with the exception of the state-level education sector — local governments account for 82% of the 980,000 lost jobs during the month of April.
While the federal government appears poised to offer another round of emergency aid to state and local governments, which should help stop the hemorrhaging, the timeline on that is anything but clear. Last week, President Trump said he was “in no rush” to negotiate another stimulus bill, despite jaw-dropping unemployment numbers across the board.
In the meantime, an increasing number of local governments are resorting to layoffs and furloughs to make ends meet, a stark reality that the report merely reflects.
Review the BLS’ Current Employment Statistics Highlights for April 2020:
Ces Highlights by Ed Praetorian on Scribd
