With the Coronavirus pandemic spreading rapidly across the United States, businesses continue to shutter, causing millions to lose their jobs. As per the latest reports, the unemployment rate has reached 11%, and nearly 26.4 million people have filed for unemployment insurance benefits. Big companies like JCPenny, Under .... Read more »
As a sector dominated by gig workers and contractors, unemployment in arts, entertainment and recreation sector has been drastic, next only to the accommodation and food services sector in scale. Sub-sectors include performing arts, museums, theatres, amusement parks, gambling arcades, stage shows, fitness centers, spectator sports, etc. The movie industry also .... Read more »
The global economic shutdown following the Coronavirus pandemic began with a lot of speculation and fear over the prospective job losses. Three weeks on we have a clearer picture of what is happening and what the future will need in terms of bouncing back from the economic impact. We will take a brief look at how unemployment due to coronavirus is faring and what th.... Read more »
Retail Trade is a significant sector in the modern economy. It employs a large number of people across various verticals from food to fashion. The market has players as big as Amazon to small neighborhood artisanal stores. You’d expect retail trade to be hit badly by the coronavirus, but there is a mixed record. What is the unemployment in retail trade looking lik.... Read more »
Yes, you read that right. We are all well aware of the importance of healthcare professionals at this crucial time. We read about the admirable efforts of frontline doctors, nurses, administrative staff, etc in handling the burden of patients. They are out there risking their health for our benefit. And yet, Read more »
The latest report from the Department of Labor for the week from March 21-28 is just in. The unemployment claim numbers are at an all-time high for the second week running at 6,648,000 seasonally adjusted initial claims. The labor department reports that most states attribute these numbers to layoffs led by the accommodation and food services sector.