America’s Covid & Recession State

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CSI Professionals continues to support all those in need of internships and jobs during this unprecedented time in history. Despite the unfortunate state of our economy, CSI is part of the change that lends a helping hand.

The Covid-19 outbreak and economic turndown caused the unemployment rate to rise from 6.2 million in February to 20.5 million in May. The post-World War 2 era is second only to this season’s recession. The number of unemployed workers during Covid is more than the rate in the Great Recession of the 1930s. In May, 9 million displaced American workers wanted a job, compared to 5 million in February. There are 5 ways that Covid-19 is affecting unemployment among American workers:

  1. The unemployment rate for women in May (14.3%) was higher than the unemployment rate for men (11.9%). This is more than the unemployment rates in the Great Recession.
  2. The unemployment rate for black men in May (15.8%) was less than the rate they faced in the Great Recession (21.2%).
  3. The unemployment rate for immigrants (7%) is significantly higher than the rate for U.S.-born workers (12.4%) in the Covid-19 downturn, like their experience in the Great Recession.
  4. The unemployment rate for young adults ages 16 to 24 (25.3%) exceeded the rate of other workers in May, due to the Covid-19 outbreak.
  5. Unemployment rates in Covid-19 are lower among workers with higher levels of education, like in the Great Recession.

Our nation has never seen a recession at this magnitude before. Everyone is trying to get by in these difficult times. Despite the unemployment rates, CSI still opens their doors to anyone who desires to get back up and keep applying for internship and job opportunities. What we all need is a helping hand. CSI Professionals advocacy believes in and strengthens the uplifting of jobseekers. Lean on us when you’re not strong. We’re with you all the way!

*Source Article: https://www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession/*

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*(Please note that while these are information gathered on current news; this is reinforced by our opinion and may not be construed as a form of advice)*

AMERICA COVID ARTICLE PIC JULY 7

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