In April of 2020, there were 145.67 million people covered by unemployment insurance but only 133.33 million people working.
This unusual inversion had never happened before. It lasted 4 months, April through June of 2020.
Covered Employment data is weekly, ending Saturday and lags by a week. I use a “monthly average” which run through July vs the employment level series which runs through August.
Author(s): Mike Shedlock
Publication Date: 6 September 2021
Publication Site: Mish Talk