Bureau of Labor Statistics (BLS) changed with the pandemic.Īmong the measures included in the above graph from the blog post are the official unemployment rate a measure of those unemployed 15 weeks or longer and measures that take into account discouraged workers and others who are marginally attached to the labor force, and those who want full-time work but can only get part-time work.Īs noted in the post and seen in the graph, all of the measures increased dramatically, but they didn’t all move in parallel-in other words, the distance between the lines didn’t stay constant. 5 FRED Blog post discussed how six measures of labor underutilization from the U.S.
What are various measures of unemployment showing us?Īn Oct.
This post provides a roundup of some recent St. labor market, including which workers have felt the most impact. There are many ways to dissect data to get a more complete sense of how the pandemic has affected the U.S. (Employment has increased every month since then, and unemployment declined to 7.9% in September after a 14.7% April peak.)īut these aggregate numbers don’t tell the whole story. The overall immediate effects on the labor market have been easy to see: The unemployment rate shot up in the early months of the COVID-19 crisis in the U.S., and payroll employment numbers show that more than 20 million jobs were lost in April-a record amount for one month. economy, including on people’s jobs and livelihoods. A diminished Nokia was once hard to imagine, but a failure to keep ahead of those that were innovating and changing the face of the smartphone market saw the company left behind.Social distancing and the partial economic shutdown in response to the COVID-19 pandemic have had a profound impact on the U.S. Nokia’s decline serves as a reminder that keeping ahead of the development curve is crucial in an industry at the forefront of tech innovation. While the market has two fairly consistent leaders, Until the first quarter of 2011, Nokia was the leading smartphone vendor worldwide with a 24 percent market share. Xiaomi’s smartphone market share in Europe, for example, has increased from 10 percent in the first quarter of 2020 to as high as 24 percent in the second and third quarters of 2021. Other Chinese manufacturers have primarily filled the gap left by Huawei’s decline. Huawei once had a solid hold on this position, even leading the market for a brief period, but the trade restrictions have taken a heavy toll on the Chinese smartphone manufacturer.
The back and forth between Apple and Samsung is typical at the top end of the market, but the fight for the remaining places among the top five vendors is hotly contested. Samsung and Apple tend to swap places at the top of the smartphone market, with Apple smartphone sales typically peaking in the last quarter of the year. Samsung held 23.4 percent of the global smartphone market share in the first quarter of 2022. As of 2021, smartphone users are using an estimated 6.23 billion smartphone subscriptions, which is expected to climb to 7.7 billion by 2027.Īpple and Samsung lead a competitive field With many people using more than one smartphone, the actual number of smartphone subscriptions exceeds the number of smartphone users. Smartphone shipments worldwide are projected to add up to around 1.43 billion units in 2022.īy the end of 2020, 78.05 percent of the world’s population were smartphone users. The smartphone industry has been steadily developing and growing since 2008, both in market size and in number of models and vendors. Smartphones: a rapid integration with everyday life
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