TRND - When Should We Begin To See A Real Improvement Back Towards 'Full Employment'?

• Although with the exception of one month there have been job gains every month starting last May, at the pace of the last few months it would take 2 years or more just to get back to the level of employment just before the pandemic struck.
• In both 2001 and 2008, hours were cut more than payrolls or jobs. That hasn't been the case in the coronavirus pandemic. Both jobs and hours were cut by close to the same amount. What was cut far less deeply were payrolls.
• What this shows is that the brunt of layoffs was borne by lower-wage industries. Relatively speaking, higher-wage sectors were able to have their employees work from home, and avoided layoffs.

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