Tags: Coronavirus | jobs | analysis | covid | 19 | furloughs

Some US Jobs Lost to COVID-19 Disappearing Forever

man wearing face mask walks by sign
A man wearing a face mask walks past a sign "Now Hiring" in front of a store amid the coronavirus pandemic. (OLIVIER DOULIERY/AFP via Getty Images)

By    |   Friday, 28 August 2020 12:21 PM

Some of the jobs lost due to the coronavirus pandemic are disappearing permanently.

According to an analysis published by Gusto, 37% of workers who were first furloughed in March and 47% in April had returned to work by July.

And it said that 25% of those furloughed in March who returned to work had their wages slashed by 10% or more.

It also noted that hourly workers were more than 4 times more likely than salaried employees to be furloughed and 3.5 times more likely to have had a reduction in hours of more than 20% in July than salaried workers.

The analysis revealed that 22% of all employees furloughed between March and June had been terminated by the end of July.

Meanwhile, Fox Business noted the Labor Department July jobs report showed that employers added 1.8 million jobs last month, pushing the unemployment rate down to 10.2%

Fox Business said the economy has so far added back less than half -- about 42% -- of the 22 million jobs it lost during the pandemic.

The permanent losses reached 2.9 million in July, according to Fox Business.

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StreetTalk
Some of the jobs lost due to the coronavirus pandemic are disappearing permanently. According to an analysis published by Gusto, 37% of workers who were first furloughed in March and 47% in April had returned to work by July. And it said that 25% of those furloughed in March...
jobs, analysis, covid, 19, furloughs
188
2020-21-28
Friday, 28 August 2020 12:21 PM
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