Dr. Alex Alonso, Findings Suggest A Slow Recovery to Pre-pandemic Employment for Large Cities and Smaller Communities Alike.
Dr. Alex Alonso, Chief Knowledge Officer at Society for Human Resource Management (SHRM). U.S. Workers Have Lost $1.3 trillion in Income During Pandemic, Survey Finds.
Findings Suggest A Slow Recovery to Pre-pandemic Employment for Large Cities and Smaller Communities Alike.
WHAT: New research released by SHRM (Society for Human Resource Management) and Oxford Economics puts a price to the economic pain inflicted by COVID-19, as U.S. workers have lost an estimated $1.3 trillion in income during the pandemic. Notably, 20 percent of this lost income represents earnings of those who remain employed, suggesting job-losses alone are an incomplete account of COVID-19’s impact on workers. The latest findings from SHRM’s COVID-19 Business Index also examines the long-term consequences, forecasting a slow recovery for both large metropolitan areas and smaller communities.
The “COVID-19 U.S. Business Index” examines the virus’s impact on U.S. business operations and workforce decisions and assists leaders and government officials in understanding, in near-real time, how employers are grappling with the pandemic-induced economic crisis. Findings include: