Second Wave of Coronavirus Layoffs Is Here

Nearly a third of those returning to work have been laid off a second time.

Video Player is loading.
Current Time 0:00
Duration 0:00
Loaded: 0%
Stream Type LIVE
Remaining Time 0:00
 
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected

      A study conducted jointly by Cornell, JQI and RIWI contends a second wave of job losses due to COVID-19 is “well underway.”

      The report says that 37% of survey respondents had been laid off or furloughed since the start of the pandemic.

      Of those, 57% had jobs restored since, though many are facing further cuts.

      Cornell’s report says 31% of those called back to work once have already been laid off a second time.

      An additional 26% said that they were told they “may be laid off again.”

      This means 3 out of 5 “re-payrolled workers” were now either out of work again, or feared being let go.

      The report also pointed out that those being re-laid off weren’t necessarily residents of states experiencing a spike in virus cases.

      The authors then concluded that the layoffs were more directly related to the overall economic conditions and the exhaustion of PPP funds.

      More in Economy