Equitable Growth’s Jobs Day Graphs: August 2021 Report Edition
On September 3, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of August. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data.
The prime-age employment rate for prime-age workers increased slightly in August from 77.8 percent to 78.0 percent, but remains below pre-recession levels.
The unemployment rate declined for White workers (4.5 percent) but did not change notably for Black workers (8.8 percent), the highest group, or for Latinx workers (6.4 percent) or Asian workers (4.6 percent).
The prime-age employment rate for both men and women rose in August, though neither rate has approached its level from immediately before the coronavirus recession.
Top-line unemployment, also known as U-3, and a broader measure of labor underutilization, known as U-6, declined in August, as both overall unemployment and underemployment trended downward.
The share of unemployed workers who reentered the labor force continued to rise in August, while the share of those who lost their jobs declined. Employment is still elevated relative to pre-coronavirus recession levels.