The Effect of COVID-19 on U.S. Employment

There have been drastic effects of COVID-19 on U.S. employment. So much in fact, that it's harder to find work. Here's everything you need to know about it.

If there's one thing that's dominated headlines in the past few months it's COVID-19. Not only is it a mysterious and new virus that threatens the health of almost everybody, but it's also wreaked havoc in other ways. The effects of COVID-19 on U.S. employment have been devastating, and it can still get worse.

As the coronavirus spread across the country, it brought the stock market down to historic lows. Businesses began shuttering their doors and closing for months, costing people their jobs. Not only did people's investments prove fruitless because of the virus, but so did their livelihoods.

Now, the people who managed to hold onto their jobs are working harder than ever before, even if they're happy to have their jobs. Most say that they consider themselves lucky not to have lost employment. It's a different story for most other people.

With unemployment rates at historic highs and the economy slowing down, the coronavirus has had profound effects on U.S. employment. Keep reading below to learn more. 

The Effects of COVID-19 on U.S. Employment Have Been Devastating

The unemployment rate in the U.S. was 13.3 percent in May, brought down a mere percentage point since it spiked in April. Fewer people have jobs now, and that means fewer people are bringing in paychecks. With fewer paychecks coming in, fewer people have money to spend on retail items.

While it's true the retail business saw a spike in May, it remains at historic lows. That's how bad the effects of COVID-19 have been; even though some statistics are recovering, they remain unprecedented. We have simply never seen anything like the coronavirus before.

Keep reading below to learn more about the devastation that COVID-19 has wreaked on the U.S. economy.

Unemployment Was at the Highest It's Been Since the Depression

When the coronavirus was at its worst, businesses began closing in order to help prevent the spread of the virus. While it helped to save lives and preserved communities, it had another effect. Without customers coming in, businesses had no need for employees.

Employers' response to the coronavirus saved lives and helped to keep communities together. Yet, it also fundamentally changed the economy.

Businesses and Employees Are Bracing for a Second Wave

Even now, as things begin to recover and the economy starts looking healthier, they're worried about a second wave of the coronavirus. Nobody is sure if another wave of COVID-19 would be manageable, and businesses are wary of hiring people back in case they need to get rid of them again.

And the way things are going, it seems like a second wave of COVID-19 is brewing. That means the best kinds of jobs to have right now are ones that can be done from home, where businesses are more likely to hire people. If you're working from home, you're likely skilled and are less likely to get sick.

Your clients and customers are likely virtual, too. That means the coronavirus won't affect you — at least financially speaking!

COVID-19 is Real, and So Is Its Impact on the World

Many people are disputing the existence of COVID-19, playing it off as a conspiracy. Even if you can't see the actual virus though, the effects of COVID-19 on U.S. employment are unquestionable. It's changed things, and finding a job won't ever be the same for people.

It's not impossible to find a job, though. It's just harder, and we can help you land a perfect position. You can browse for jobs on our website, and even develop the skills you'll need to succeed in the new work environment.

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