US Hiring Outlook for Second Half of 2020 Muted
UNEMPLOYMENT RATE 11.1%
The U.S. economy added 4.8 million nonfarm jobs in June, while unemployment dropped from 13.3% in May to 11.1% in June, reflecting the easing of restrictions caused by the COVID-19 pandemic.
The Leisure and Hospitality industry had the largest increase in employment in June, adding more than 2 million positions, while Retail Trade jobs increased by 739,800. Learn more from the recent employment report compiled by the U.S. Bureau of Labor Statistics and view the unemployment rate in your state.
MAJOR INDUSTRY EMPLOYMENT
Construction: + 158,000
Manufacturing: + 356,000
Retail Trade: + 739,800
Transportation and Warehousing: + 98,700
Information: + 9,000
Professional and Business Services: + 306,000
Education and Health Services: + 568,000 Health Care and Social Assistance: + 474,900
Leisure and Hospitality: + 2,088,000
Government: + 33,000
COVID-19 Continues to Impact Businesses
With several states experiencing spikes in COVID-19 cases, businesses are predicting a dim hiring outlook for the latter half of the year with only 35% of decision-makers saying their company will increase employees.
This is according to a newly released survey conducted by The Harris Poll and commissioned by Express Employment Professionals.
A total of 42% of hiring decision-makers predict there will be no change in their business, while 16% anticipate a decrease in employee count.
This is similar to the first half of 2020 when 31% of hiring decision-makers said their company planned to increase employees with 41% reporting no change and 26% decreasing staff.