The April 2020 changes in payroll employment are unprecedented in scale, but their nature is familiar.
The FRED graph above shows the monthly percentage change in payroll employment across all service-providing industries since 1939. Although the most recent reduction in leisure and hospitality employment (the red bar on the far right edge of the graph) has been the largest, both in magnitude and in proportion to the size of the industry’s labor force, we can compare it to a somewhat similar event: the American Telephone & Telegraph Co. union workers’ strike of August 1983 (the blue bars at the center of the graph).
Both reductions in employment were orchestrated: In 1983, the labor stoppage was to achieve better working conditions; in 2020, the labor stoppage has been to slow the spread of the COVID-19 pandemic.
The flip side of an organized labor stoppage is the organized nature of its recovery. In the case
Get your MLS Listings published across the web for maximum visibility across the internet. CLICK for more information.
View MLS Listings in Missouri. We aggregate MLS Listings from St. Louis, Kansas City, Springfield, and Columbia covering the vast majority of real estate listings in Missouri.
STL.News publishes unbiased news, just news as it was intended to be reported.