Hiring Has Started, But Job Losses Still Outweigh Gains

Joining the studies that suggest that the U.S. economy could be nearing the bottom of its downturn, the COVID-19 Business Index reported on June 4 that more employers are hiring salaried workers than laying off or furloughing them. The gains are long-term, not short-term.

The Index, produced by SHRM (Society for Human Resource Management) and Oxford Economics, found that despite these positive developments job creation is still not occurring at the rate required to recover the more than 40 million jobs lost in the U.S. since the outbreak of COVID-19.

“We’re starting to see more employers seeking new talent and show they are ready to get back to work,” said SHRM CEO, Johnny C. Taylor, Jr. “That’s heartening to hear: The recovery is coming. But the truth is it’s too soon to say what shape it will take—that will take more time and research.”

Taylor added: “I can say this, though, to the workers who have been laid off or furloughed: Start skilling up, now. Yes, some jobs will come back. But, frankly, some are gone forever, and many of those that do return are going to be different.”

"Despite a continued increase in newly filed unemployment claims, state re-openings may be beginning to benefit some portions of the economy,” said Dan Levine, head of Oxford Economics’ location strategies practice. FULL ARTICLE

© 2020

InteliCrunch is a free service provided by a collective of people who monitor the background screening industry and how events affect not only the people in it, but even more importantly, the real human impact the industry has on today's society.*All third party logos and / or images used on this website are the sole property and / or registered trademarks of their respective companies or copyright holders. Use of these logos, images or likenesses does not, in any way, imply the endorsement of InteliCrunch by any of the businesses, brands or individuals represented, their parent companies, officers, employees, partners, or affiliates. Any such usage is for informational / news purposes only.  Any / all articles, announcements, releases or third-party-authored content is / are linked back to the original "source"  and author credit given  Furthermore, InteliCrunch is not responsible for, and does not warrant the safety of any third-party links or sites to which any viewer may be directed from InteliCrunch.  InteliCrunch has made reasonable efforts to ensure that any news or informational links on the site are from "known and reputable"  sources / websites.