While more than 3 in 4 Americans see their layoffs as temporary, that may not be the case for many of the unemployed, according to experts.
Anita Tallman worked for the same image processing company in Nevada for 24 years. What began as reduced hours at the start of the coronavirus pandemic — and then a one-month furlough as it wore on — ultimately turned into a permanent layoff.
While more than 3 in 4 Americans see their layoffs as temporary, according to the Bureau of Labor Statistics, that may not be the case for many of the 38 million who filed unemployment claims in the last nine weeks.More than 40% of the layoffs that have occurred since the lockdowns began will likely never come back, according to a recent paper from Becker Friedman Institute at the University of Chicago. That’s around 16 million jobs.
She lost the health insurance tied to her job and is relying on unemployment benefits to pay her bills. “There are firms that are hiring,” Barrero said. “There are new business models and new firms that are arising, or that need to arise during the recovery, and they need to hire new employees.” ‘I may need to switch careers entirely’Thirty-seven-year-old Geno Sapio is waiting to see if his temporary furlough from his banquet server job will turn into a permanent one.
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