Reopening Is Still Causing Damage To The Job Seekers In The US

Jun-2020 | Others

The recent study shows the unemployment rate has gone up after the government declares reopening. More than 1.5 million Americans filed for unemployment last week. The number is higher than expected to cause economic damage. Although the opening is underway and not all the states have open for the business yet. The new application for the state benefit fell by just 58,000 the labor department has reported. The unemployment record has surpassed the earlier pandemic record set in 1982. In the monthly release by the Labor Department of the US stated that the US Employers added 2.5 million jobs last month.

The new jobs supported the job seeker who lost their job due to shutting down the factories and service industries. The unemployment rate fell to 13.3% for a while which was good news for the state government. Most economists and analysts expect the US unemployment rate will stay around 9% throughout the year. More jobs need to create to support the growing demand. The Labor Department is also keeping an eye on the jobless people who are taking benefits offered by the government. It has recorded more than 29 million people, which nearly one in five American employees taking the benefits.US central bank also keeping eye on the situation. This week the central bank has warned Congress that further economic relief may be required to recover the damage and keep the situation in control.

Many theorists suggest as soon as reopen in the country completes, the employer will generate more job opportunities in the country. The demand for goods will increase, which creates increased demand for production. The companies rely on imports and export also support the economy to generate revenue through international trading.

The initial state of the reopen in the country would be very crucial as the sanitization practice, no-contact working environment and precaution taken during the everyday activity will decide the future situation in the country. Failure to manage it may create a breakdown in the business which leads to the temporary lockdown in the country.

Congress government is working on the extension of the existing policy that offers $600 benefits to the workers. It is planned to an extent beyond July and continue giving benefits to the employee until the regular business comes on track. Florida has reported less working looking for the job. The statement received from the Florida government stated that the number has reached in the minus which is a good sign for the state. Similarly, Oklahoma has reported sizable drops compared to the previous week. In contrast, Texas has shown the biggest change in the month with over 4219 job seekers looking for the job.

While the layoffs in the country are still on, in some parts of the country the new recruitment has begun which easing the unemployment rate and giving relief to the job seeker. The new businesses have gained ground and looking for the employee to work in their country. It is still unclear for how long it will take to get the situation in the control. The pandemic may stay for years to come and people have to adopt the new way of living after everything becomes normal.