How Labor Markets Could Bounce Back From High Unemployment

The Covid-19 outbreak blindsided the U.S. economy and caused unemployment to surge to previously unthinkable levels. As states begin to re-open, and the economy recovers, how will the U.S. bring back jobs lost during the peak of the crisis?


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How Labor Markets Could Bounce Back From High Unemployment

[gorrilaunit]

Short answer: *No*

Companies have been wanting to downsize for years and they're not turning back when they can now pivot to e-commerce

[zergenzerg]

And NO, more gig and part time work DOES NOT MEAN EVERYTHINGS OKAY.

[goldja]

SMH it's worse then the 2008 recession, and there is no quick fix, the honest truth is it will take years for unemployment to be low again. For those who have a job set up a emergency fund ASAP and put as much as possible into your retirement.

[zziggy]

Just cause people are going back to work, doesn’t mean they are making a living wage. Their hours are cut, opening at half capacity. I worry about the restaurant industry, I worked with a lot of hard working good people. I work in a lab now. So weird being not effected by it and being on the essential-science side of things. I donate to San Diego’s food pantry to help. If I can do more, let me know.

[snakemachine]

My co-workers unemployment checks were so good that they didn’t wanted to come back to work until they told them they were going be terminated.

[grimsonforce]

An already weak infrastructure combined with poor leadership. COVID is something employers are using for the inevitable layoffs. The airlines should start massive layoffs soon.

[isaacannanjr]

I find it crazy that most of Congress thinks that a 1 time $1, 200 check is gonna last regular people for 3 months.... plus not everyone has received the stimulus check or unemployment

[FinancialShinanigan]

Companies will use this pandemic as excuse for need to downsize & with extra unemployment ending July 3st, expect more pain to come for those out of work.

[EvanWells]

It wasn't a strong labor market. Is 40 years of wage stagnation a strong labor market? Is inability of Americans to generate 400.00 of savings a strong labor market? no. It was a widespread, weak labor scheme.

[Jason-mvgo]

I think 30% of retail chain stores won't re open.
Most self employed stores, have to take the hit, its their lively hood.
I hope most people have learned what they truly need (not Want)
Don't rush out and buy, this seasons must haves,
global consumerism is not the savior of the world

[itschrisuphere]

My heart goes out to anyone who lost or had their livelihood impacted by this this.
I was expecting & and am dissapointed a particular analogy was not mentioned -> that this situation we are in right now is most analogous not to the great recession, great depression, or other 'economic' event. This is a GLOBAL NATURAL disaster. That took place in one of the (RELATIVELY, when looking through history) healthiest, strongest American/Global economies that had ever existed.
If you had to experience a pandemic in any kind of economy, you would have hoped it would have happened in one like ours.
Reality is, there will be permanent scarring because of this - the failure of planning and stimulus to prevent this scarring will lead to permanent damage. However, governments have (so far) been mostly accomodating, and when we start actually turning the corner on this (accessible and available prophylaxis/treatment/vaccine etc) then, I expect that this decade will be the strongest and most transformative EVER.
We just need to prevent the permanant scarring, move forward and try to be ready for when we actually do. The failures of our system across the board have only become more visible, this is also a once in a lifetime opportunity to make systematic change into the world we want to live in.

[pctLowBattery]

What are working parents (moms) suppose to do if school don’t fully reopen?

Here in MA, They are planning September school return
One group will go one week (10 kids per classroom) the off group will work from home on their computer
Then they switch

What are working parents going to do??

[pmjbacon]

Do you really call less than a living wage and no medicare or welfare a proper job?

[ilikelittlejimmys]

This shows why you need an education. You can't expect you be working at McDonald's and be on welfare or hope the government will help you out of a crisis. It's the people with no ambition and drive that get hurt the most during these times.

[reijiriffic]

I work in the travel industry and there is constant dread daily of being called up by hr for a layoff. Still have my job but....

[arenlodge]

Since everything is contactless, most jobs are in jeopardy since not everyone can work from home

[saulgoodman]

You cannot compare this recession to other ones. This was caused by a pandemic.

[georgebenta]

"During the corona virus outbreak"... Is the outbreak considered over? It's still happening now.

[pctLowBattery]

Also, We all know business will operate lean and mean. They will have hiring freezes. Making one person do the job of 3 people... much like they did during the recession. And those people better just be thankful they still have a job. While the company tried to squeeze out as much profit for the people who really matter to the company.

[TWICEfan]

BLS: "We messed up on those last unemployment statistics. Employment is MUCH higher than 13%."

CNBC: "Unemployment dropped to 13%."