The US Bureau of Labor Statistics released April statistics, indicating that there was at a significant spike in unemployment from February to April 2020. In April 2020 unemployment reached 14.7 – a massive spike year over year.
The chart below shows a visual representation year-over-year.
A recent survey conducted and released by Linkedin’s Workforce Confidence Index shows confidence levels from -100 to +100 by industry.
Morale and overall confidence is a critical element to productivity and happiness during this time. If employees do not trust that their job is secure, they may exhibit a lack of focus and productivity. On the flip side, employees who feel secure in their role are more likely to focus on the task at hand and be fully present.
Here’s the scale by sector:
To see more about how COVID-19 is impacting employment across industries, get our May market update.