Study shows second wave of layoffs underway

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In this photo taken Thursday, June 4, 2020, a pedestrian wearing a mask walks past reader board advertising a job opening for a remodeling company, in Seattle. The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy and depressed the job market in the wake of the viral pandemic. (AP Photo/Elaine Thompson)

ALBANY, NY (NEWS10) – A second wave of layoffs is hitting works in the United States, according to a new survey by Cornell University and Real-time Interactive Worldwide Intelligence.

The study was released August 4 and indicates that a percentage of workers who’ve returned to work after a widespread first round of layoffs are now being laid off for a second time.

The survey also indicates that another percentage of workers have been told that they may be laid off again.

Researchers collected data from July 23 to August 1 and demonstrated that employers with workers who have returned to their payrolls are now renewing layoffs.

Here’s a breakdown from the study:

  • 37%, reported having been laid off or furloughed since March 1
  • 31% of workers report being laid off a second time
  • 26% have been told by employers that they are at-risk for another layoff
  • 57% said they were back on payroll after an initial dismissal
  • 39% of those back on payroll report not actually being asked to return to work even though they were being paid
  • 28% of respondents, working and non-working consider themselves self-employed
  • 32% of self-employed respondents received federal Pandemic Unemployment Assistance

A total of 6,383 individuals responded to the study. The team behind the study anticipates continued high levels of weekly unemployment claims and increasing unemployment rates over the coming months.

Meanwhile, Washington talks on vital COVID-19 rescue money are teetering on the brink of collapse after a marathon meeting in the Capitol generated lots of recriminations but little progress on the top issues confronting negotiators.

“There’s a handful of very big issues that we are still very far apart” on, said Treasury Secretary Steven Mnuchin. He talked of impasses on aid to states and local governments and renewing supplemental unemployment benefits in the Thursday night meetings.

Both sides said the future of the talks is uncertain. President Donald Trump is considering executive orders to address evictions and unemployment insurance, but they appear unlikely to have much impact.

You can see the full report from here Cornell University/RIWI here:

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