Skip to content
Subscriber Only
Wealth
Living

One-Third of U.S. Job Losses Are at Risk of Becoming Permanent

  • Pandemic risks causing “rellocation shock” with lasting damage
  • Bloomberg Economics sees huge reallocation hit to labor market
Video player cover image

June 11: U.S. Jobless Claims Gradually Ease

Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills.

Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to $100 on some days but often coming home with almost nothing. While the restaurant is trying to slowly reopen, Lovely reckons the best he can hope for is a part-time position, requiring him to keep his second job if he’s going to meet his expenses.