Congress just let unemployment benefits lapse during a joblessness crisis

Some jobs in retail have rebounded, while others have been wiped out permanently due to the coronavirus pandemic.Crystal Cox/Business Insider
  • Hiring rebounded in transportation, healthcare, and retail in May and June, according to ZipRecruiter data reported by The Wall Street Journal. Those sectors created 7.5 million jobs in those two months.
  • Job postings in healthcare and logistics have accounted for 18% and 15% of new job postings since May 1, the Journal said, and bars and restaurants have recouped half the jobs lost from the pandemic as states slowly reopened.
  • This jobs recovery was the best two-month stretch on records going as far back as 1939, per the Labor Department, and ZipRecruiter data shows jobs online just passed 7 million for the first time since April. But the unemployment rate was still in double digits (at 11.1%) as of the end of June.
  • The job gains are also modest in the face of the immense damage from the state-by-state lockdown in March, and the recent surge in new cases has coincided with the first increase in jobless claims since then.
  • The $600 bonus from the federal government to unemployment insurance ended July 31 without congress passing a replacement. Business Insider reported that talks are stretching into early August with Democrats and Republicans far apart on a range of issues.
  • The slow jobs recovery — and lingering uncertainty over spiking infections and potential new lockdowns — may also mean that many laid off due to the pandemic won't have a career to go back to.
  • The Washington Post reports that 55% of the 132,500 business closures on Yelp related to the pandemic have become permanent, with the restaurant sector accounting for most of them.