18.7 million U.S. workers still need our help

 

Economic Policy Institute:   A disappointing August jobs report showed jobs growth cooling thanks to the Delta variant causing caseloads to surge. Down significantly from June and July, only 235,000 jobs were added in August and segments of the U.S. workforce still face health and safety risks by going to work in person. EPI experts have analyzed the data and released this updated chart, which shows just how many U.S. workers are still suffering from the economic downturn caused by the pandemic—18.7 million U.S. workers still need our help.

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There’s more to the story than the 8.4 million people classified as officially unemployed. The true magnitude of COVID-19’s lasting effects on U.S. workers includes another 3.2 million people who are unemployed but have been misclassified as employed or out of the labor force. 4.2 million have dropped out of the labor force altogether, and 3.0 million people are still employed but have suffered pay cuts or loss of hours, resulting in a net loss in take home pay. That means a whopping 18.7 million U.S. workers are still in need, highlighting how crucial it is to continue safety nets like the federal pandemic unemployment insurance benefits that were allowed to expire this Labor Day.