Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Millions of Americans are unemployed — and desperately seeking work that just isn't there.
What they're saying: "There aren’t enough jobs to go around," says Tara Sinclair, a senior fellow at the Indeed Hiring Lab. "It’s like playing musical chairs, and we’ve taken a whole lot of chairs out of the circle at once."
Jobs are coming back in some industries, but the pandemic continues to hurt others — turning many temporary layoffs into permanent job losses.
The sectors driving the recovery...
- Jobs in trucking, warehousing and e-commerce, which support the stay-at-home economy, have been relatively strong, says Jed Kolko, chief economist at Indeed.
- "Construction is doing well, too, as people are looking for new homes or to improve their current one," he says.
...and the sectors continuing to struggle:
- The hospitality and tourism industries as well as retail and restaurants are suffering most as the pandemic drags on. Arts, entertainment and sports, which rely on large, in-person gatherings, are also in trouble.
Trouble at the top: Tech and finance jobs aren't immune to the coronavirus either. "These higher-wage sectors might be slower to recover because they base their hiring decisions on where they expect the economy to be longer-term," Kolko tells Axios.
- Final-year MBA students, who are usually drowning in offers by the fall, are looking at a bleak jobs landscape as many of the big consulting firms freeze hiring, reports Patrick Thomas in the Wall Street Journal.