News: COVID-19: 65% of Americans worried about job loss

Permanent Recruitment

COVID-19: 65% of Americans worried about job loss

70 percent of adults believe that for them personally, the effects of the crisis will not last longer than six months. While 61 percent of millennials said they had either lost their job or had their hours or earnings reduced as a result of the COVID-19 crisis.
COVID-19: 65% of Americans worried about job loss

Strada Education Network, a national social impact organization dedicated to forging pathways between education and employment, has released new data from its weekly, nationally representative survey of Americans on COVID-19's impact on their lives, work and education.

Since last week, the share of Americans who report feeling worried about the coronavirus may be stabilizing, as numbers declined from 56 percent to 50 percent, and expected negative impact on jobs, finances, and health remain elevated but are slightly less intense this week. Still, 65 percent of Americans are worried that they will lose their jobs.

"As we seek to more deeply understand the workforce impact of this fast-moving pandemic, we are identifying how impacts differ across demographic groups. Of note this week, Millennials reported the greatest career impact of the crisis so far -- the same generation that faced the Great Recession during their early careers," said Dave Clayton, Ph.D., Senior Vice President at the Strada Center for Consumer Insights. "In the coming weeks, we are paying close attention to how demographic and geographic differences in the data may surface new insights into how we chart a path forward."

COVID-19 Work and Education key findings include:

70 percent of adults believe that for them personally, the effects of the crisis will not last longer than six months. While 61 percent of millennials said they had either lost their job or had their hours or earnings reduced as a result of the COVID-19 crisis.

Compared to 44 percent of Baby Boomers, 52 percent of Gen-Xs and 56 percent of Gen-Zs.

Gen Xers and Millennials were the most likely to say that if they lost their job, they would need more education to maintain their current wage or salary.

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Topics: Permanent Recruitment, #Jobs, #COVID-19

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