Employment down over 36,000 or nearly 15%. Preliminary results for May showed significant improvement, but there is still a long way to go to get to pre-pandemic production levels.
An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering final April and preliminary May employment, hours worked and wages paints a stark picture of the depth of pain felt by the industry as stay-at-home orders impacted driving, accidents and consumer spending.
Repairable claims declined substantially starting in March and bottomed out in April, down approximately 50% compared to the previous year.
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