Monday, May 18, 2020

Some 42% Of Jobs Lost In Pandemic Are Gone For Good

Via Jessica

 Virus Outbreak Illinois Unemployment

Only some of roughly 36 million jobs lost since the beginning of the lockdowns designed to protect hospitals from surging cases of COVID-19 patients are not coming back in a V-shaped or a U-shaped recover. The University of Chicago estimates that 42% of the recent layoffs will result in permanent job losses.

“We find three new hires for every 10 layoffs caused by the shock and estimate that 42% of recent layoffs will result in permanent job loss,” writes Jose Maria Barrero, Nick Bloom and Steven Davis from the Becker Friedman Institute at the University of Chicago in a working paper titled “COVID-19 As A Reallocation Shock” published on May 5.

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2 comments:

  1. TRIBMay 19, 2020 at 12:04 PM

    BS, once the employment freeze bonus goes away people will want work and biz people want to make money. There are job openings because biz has prior contracts they need to complete. Sure some biz fail but that is normal anyhow. The only thing standing in the way are socialist leader's need for power.

    ReplyDelete
    Replies
    1. Brock TownsendMay 19, 2020 at 12:12 PM

      The only thing standing in the way are socialist leader's need for power.

      & they are chomping at the bit.

      Delete

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