Study finds 42% of pandemic layoffs will become permanent job losses
(Worthy News) – Many of the coronavirus pandemic layoffs will become permanent job losses, according to a new study with alarming implications for the future of the economy.
Forty-two percent of workers experiencing recent layoffs will suffer permanent job losses, according to a paper circulated by the National Bureau of Economic Research.
The finding is especially grim news because officials are hoping that most of the workers sent home during the pandemic will return quickly to their old jobs. The vast majority of the massive layoffs in response to the pandemic have been on a temporary basis: In April, 18 million of the 20.6 million people who lost work said that their job losses were “temporary,” according to the Bureau of Labor Statistics. [ Source: Washington Examiner (Read More…) ]
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