Rising US job losses stir fears of lasting economic damage - News Summed Up

Rising US job losses stir fears of lasting economic damage


Though Kelso is reluctant to leave the music industry, she said, “I have a cosmetology license. Washington state, for example, reported layoffs of government employees. Job cuts also are appearing far beyond the initially hit industries such as restaurants and stores, a sign that the damage is spreading even as businesses reopen. Washington state said it saw layoffs in insurance, and New York state reported job cuts by information technology companies. Economists say many of the jobs lost are never coming back, and double-digit unemployment could persist through 2021.


Source: Daily Sun May 28, 2020 19:18 UTC



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