Nov 17, 2020 - Economy & Business

There's little sign of worsening layoffs so far

Data: Axios/Ipsos poll; Chart: Andrew Witherspoon/Axios
Data: Axios/Ipsos poll; Chart: Andrew Witherspoon/Axios

The out-of-control coronavirus outbreak has pushed cities and states to reinstate economic restrictions.

The state of play: That hasn’t translated into another round of widespread laid-off workers, according to the newest installment of the Axios-Ipsos Coronavirus Index — but in a sign of what may be to come, it found a slight upturn in the number of workers that said they were temporarily furloughed or laid off.

  • And 8% of those surveyed said their employer shut down business completely — the biggest share since August.

What they’re saying: The “data points are more indicating the direction of something, more than saying the economy has screeched to a halt,” says Chris Jackson, SVP of public affairs at Ipsos.

The bottom line: The labor market is being monitored for signs of a backsliding recovery amid the coast-to-coast surge in COVID-19 infections and renewed lockdowns.

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