There may be good news in June about July spike-off operations in coronavirus cases

1641286711 There may be good news in June about July spike off

Glassdoor reports that job openings are still down in the tech sector with small businesses suffering more than large ones.

Esri updated its unemployment map last week and found that cities and towns added more jobs in May while employers in urban areas continued to retirees. Blue dots indicate increased employment while oranges indicate a decrease in employment.

Image: Esri

The good news is that the unemployment rate fell in June to 11.1%. The bad news is that unemployment claims went back in the third week of the month and states began halting plans to reopen at the same time.

Employers added 4.8 million jobs in June, which was better than economists expected. Employers in the leisure and hospitality sector created 2.1 million jobs and retailers opened 740,000 jobs and education and health services added 568,000 jobs.

The data for the June report shows economic activity from the first two weeks of June. The U.S. Department of Labor also said last week that the quarterly adjusted unemployment rate for the week ending June 20 was 13.2%.

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Glassdoor analyzed employer mail activity in June and found that 31% of employers were posting new openings since the beginning of the month and 33% were reducing job vacancies in the same period. The research firm said this suggests stronger delivery for larger companies.

Glassdoor analysis also found that the tech industry saw fewer job openings in technical jobs, including a 4.8% drop for IT, a 3.9% drop in computer software and hardware jobs, and a 2.2% decrease in internet and tech jobs. Uber, Air BnB, and Groupon had the biggest layoffs in the tech sector in the early months of the pandemic.

Glassdoor analysts said hiring at large tech firms has settled but small and midsize firms that are still dealing with uncertainty and lost business have not recovered jobs. Glassdoor Chief Economist Andrew Chamberlain said the June forward jobs report provides a powerful signal on how quickly U.S. job growth can bounce back and how fast businesses can reopen once and the last country to take control of the coronavirus.

That has not yet happened because states are beginning to restrict public activity in response to rising case numbers. At the end of June, California Gov. Gavin Newsom issued new closure orders, closed bars and moved restaurants back to do-only, and Texas Gov. Greg Abbott bars and river rafting trips and reduced restaurant seating capacity to 50% from 75%.

The World Health Organization reports that Saturday is the world's largest one-day increase in COVID-19 cases. WHO said more than 60% of case reports were confirmed in America, including the United States and Brazil.

Seth Harris, Labour's acting secretary in the Obama administration, said unemployment claims appear to have fallen by between 1.4 million and 1.9 million claims.

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"Large sections of the economy are still in a downturn with workers losing jobs as bankruptcy accelerates and businesses either close or close again in depressed states. suffering from rising disease rates and hospitalization, "he said.

Harris said the 11.1% unemployment rate is based on data from the first two weeks of June and does not reflect the end of the June 30 Paycheck Protection Program or the reopening break in many states.

"America's economy is in a different place than it was three weeks ago," he said. "Also, all the growth in jobs was just temporary workers returning to work."

Chamberlain agreed that the June report is an eye-opener in the rearview mirror.

“With COVID-19 issues hitting new highs in the past week, rough waters are definitely ahead of the economy in the coming months as the second wave could cost millions of closing small American businesses again and freezing hiring, "Chamberlain said.

Another factor influencing the labor market is the fear of employees about the safety of returning to work. Harris recently worked with Remesh, an online focus group company, to gauge how employees feel about returning to the workplace.

In a conversation with 300 people made through instant messaging, Remesh found that employees are concerned about the health risk of going back to offices and other personal workplaces. Seventy-two percent of workers believe the government is reopening too soon and prioritize the economy over their safety and health.

Other results include:

  • Only a third of employees said it was safe to return to their physical place of work
  • 76% of staff said the office is only as safe as the sick person there
  • 43% of white workers think it's safe to go back to work
  • 21% of Latinx employees think it is safe
  • 18% of Black workers think it's safe

"Until we address this fear, workers will not be willing to work and get back to normal spending, and our economy will not recover completely," Harris said.

Index

    Urban vs rural unemployment

    One clear spot was the rise in employment in rural communities in May. Esri updated its unemployment map last week and found cities and towns adding more jobs while employers in urban areas continued to lay off workers. deth. This movement was stronger in the Midwest, parts of the south, and the west. The map shows increased employment in blue and declining employment in orange. The size of the circle represents the number of jobs.

    At the same time, many urban counties and some states (including Texas, Florida, North Carolina, and South Carolina) are still losing jobs due to the spread of the COVID-19 pandemic. worsening in these areas.

    The Congressional Budget Office said it expected the economy to continue to grow through the rest of the year, although it will remain 6% less than it was in January 2022.

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