Economy
Economy
Economy
GDP has grown 2.1% on average over the past 20 years, but it fell from $21.7 trillion in 2019 to $20.9 trillion in 2020.
Despite the pandemic, the S&P 500 and NASDAQ stock indexes reached all-time highs at the end of 2020.
Economy
However, the labor force participation rate, or the percentage of the working-age population that is either employed or seeking work, fell to 61.7%, the lowest since 1976.
Economy
Prior to the pandemic, 1-2 million people are on unemployment at any given time. Washington, DC, California, Hawaii, and Nevada had the highest rates of unemployment claims per capita; Idaho, South Dakota, Utah, and Wyoming had the lowest.
Economy
The leisure and hospitality sector lost the most jobs: 3.7 million (down 22%). The government sector lost 1.3 million (down 6%) and the education and health services sector lost 1.2 million (down 5%).
Economy
Education, accommodation and food services, health care and arts and entertainment felt the greatest negative effects.
Economy
They're up 2.2% since 2004. Holding company wages increased 21% since 2004, while transportation wages decreased 10% and retail wages increased 0.1%.
Economy and Jobs
The US trade deficit with China in the third quarter of 2020 was $75 billion, a 1% decrease from the same time in 2019.
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