Congress just let unemployment benefits lapse during a joblessness crisis
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
jobsin 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
restaurantshave 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
unemploymentinsurance 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.
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