Due to COVID-19, the employment sector was affected the most. The situation became worst as most businesses had to shut down or cut their cost resulting in rising unemployment. Moreover, people are still not aware when the pandemic will end, which is increasing the problems for many businesses as it has already caused a lot of damages.
Before the pandemic, the employment rate in the country was increasing. However, the novel coronavirus has caused its decline and in the process affected the economy badly.
According to the official reports, the unemployment rate in the US as compared to August went down by another 1.8 percent and now sits at 9.6%.
The government has enforced various public safety measures in order to avoid the spread of the virus and started easing up on lockdown, which enabled businesses to bounce back resulting in the creation of more employment opportunities.
The rates, however, seem to be increasing every month. Wendy Northcross, who is the CEO of the Cape Cod, said that the rate of about 9% the highest since the start of the pandemic because they were losing more and more jobs each day in the lockdown.
Barnstable Country came across a similar situation where their rates went up from 5.3% to a staggering 21.5%.
The most gains to the job have been in the fields of education and health with a count of 11,100 positions. While the hospitality industry can be seen gaining jobs. The tourism industry had to face the most unfortunate circumstances in the entire situation. People have stopped traveling and limited themselves due to the pandemic. Moreover, restrictions due to the lockdown made the scenario even worse.
The government is trying its best to increase employment rates. Their main strategies involve announcing funds and pausing government layoffs.