The affect of the virus on the America workforce is the worst since the 1930’s Great Depression….
The virus has hit America harder and longer then any other county so far…
It is gonna take a while for jobs to come back and some of those jobs are not coming back as companies embraced race on-line ways of doing business and consumer’s lack the money to buy nonessential products …
Thew virus hesitations among consumers will also work against a country trying to crawl back while the virus slows in New York…But continues to infect more in some other places….
All this IS on Donald Trump’s watch, even as he tries ignore it….
The U.S. lost 20.5 million jobs in April amid the economic devastation of the coronavirus pandemic as the steepest recorded surge in American unemployment nearly wiped out a decade of job gains, according to data released Friday by the Bureau of Labor Statistics (BLS).
The unemployment rate spiked to 14.7 percent from 4.4 percent in March, according to the April jobs report, as thousands of businesses closed and laid off or furloughed workers they could no longer afford to employ. The one-month rise in the unemployment rate between March and April is the largest ever recorded by the BLS.
April’s staggering job losses also shattered records for both the largest one-month decline in jobs — roughly 2 million in September 1945 — and the highest level of unemployment ever recorded by the BLS, 10.8 percent in November 1982.
The jobs lost in April alone are almost 2.5 times the 8.7 million jobs lost during the Great Recession and nearly equal to the 22.4 million jobs gained in the decade of recovery that followed.
Between March’s revised loss of 870,000 jobs and April’s record-breaking plunge, the U.S. has lost roughly 21.4 million jobs since the spread of COVID-19 upended American life and derailed a resilient economy.
While 18.1 million of the 20.5 million jobs lost in April were due to temporary layoffs, according to the BLS, the steep economic toll of the pandemic may force many of those employers to close for good.
“Unfortunately, for many of those in the job market, the question becomes whether these jobs will return and these businesses reopen, which could have devastating and far-reaching economic effects,” wrote Beth Ann Bovino, chief U.S. economist at S&P Global Ratings, in a Thursday research note.
Bovino estimated that 90 percent of the U.S. population has been forced to live under some form of stay-at-home order as state and local governments take desperate measures to slow the spread of COVID-19….
While people are out of work in increasing numbers?
The media has been reporting that most Americans are worried about reopening the country…
Weekly Jobless benefits and $1,200 check seem to be carrying some of them….
Some will be uneasy about going back to work, which will slow the recovery….
The new treatment drug is not widely available and a vaccine is still not here…
Almost 3 out of 4 Americans have concerns that the country is reopening its economy too fast amid the coronavirus pandemic, a new poll from the Democracy Fund + UCLA Nationscape Project finds.
When asked about social distancing restrictions being lifted, 71 percent of those surveyed said that they are worried that the restrictions are being lifted too quickly, while 29 percent said that restrictions aren’t being lifted quickly enough.
As calls for the country to reopen continue and grow in strength, around half of all states have rolled back their social distancing restrictions at least to some extent, with states allowing businesses to reopen their doors to varying degrees. Other states have maintained their stay-at-home orders and other restrictions.
“There’s a tendency for people to focus on people who are very loud right now,” Robert Griffin, research director for the Democracy Fund Voter Study Group, said. “But there’s … a real patience that pervades most of American action.”
Along party lines, 83 percent of Democrats said they were worried about loosening restriction too quickly while 60 percent of Republicans said the same thing….