40 Million Lost Their Jobs in Just 10 weeks
06/03/2020
67%
Tech workers fear losing jobs to automation amid coronavirus pandemic. According to global service provider KPMG’s report, roughly 67% of tech employees at U.S. technology companies are worrying about they’ll lose their jobs to digital capabilities powered by artificial intelligence, machine learning, and robotic software, compared to 44% of workers outside of tech. While U.S tech companies shed a record 112,000 jobs in April, erasing total job gains over the past year, according to an analysis of Labor Department data. However, AI jobs could see up to a 16% increase worldwide in 2020, crossing 950,000. Increasing demand for AI capabilities has proven beneficial as companies face with the aftermath of the pandemic, IDC told to WSJ.
61.9%
As lockdown restrictions ease everywhere, many states are beginning to restart their economies and return to normal social activities. Mostly of employees now say they are just fine working from home and would like to do remote working permanently even as workplace reopen. In response, many companies are making plans to permit many of their employees to continue working remotely even after the disaster is over.
The survey released by Upwork, a global platform for freelancers — discovered that 61.9 % of workers of hiring managers plan more remote work for their hires before the pandemic. This shows that a shift to working at a dwelling will further take away geographic limitations to hiring and permit employers to find qualified workers regardless of where the talent resides.
40M
The U.S Bureau of Labor Statistics (BLS) reported that the number of US people lost their jobs in just the past 10 weeks soared to more than 40 million as the number of jobless claims continued to rise with another 2.1 million people filing for unemployment last week ending May 22- a disastrous rate not seen since the Great Depression, the labor department said on Thursday. Job losses have hit virtually every industry whereas the leisure and hospitality industry was the hardest-hit, with 4.8 million jobs lost and also millions of jobs lost in many sectors like education and health services, retail and manufacturing, etc.
13.6%
Bureau of Economic Analysis report shows that consumer spending in the U.S plunged by a record-shattering 13.6% in April as the COVID-19 lockdown shuttered many businesses — that’s figure is equal to about $1.89 trillion. This is the largest drop since 1959, according to BEA. Economists surveyed by Bloomberg had expected a 12.8% decline. The weak April spending adds to the evidence that the U.S. Economy is gripped by the worst downturn in decades, with consumers unable or too anxious to spend much, the Commerce Department said on Friday.
30%
American Airlines Group Inc told employees that it’s planning to lay off 30% of its management and support staff, a reduction of about 5,000 jobs as the airline prepares to shrink in response to the dramatic decline in travel brought due to the COVID-19 pandemic. The airline also started offering buyouts to these employees and said it plans to offer new voluntary leave and buyouts for frontline staff and make forced cuts if there aren’t enough. The workers will remain on the payroll through Sept. 30, the company said. Meanwhile, United Airlines Holdings Inc has also announced it will reduce its management and administrative staff by about 30% — really the painful time for all, the company said.
123,000
The US Centers for Disease Control and Prevention (CDC) expects the COVID-19 death toll in the United States to reach 123,000 by June 20. According to Johns Hopkins University, there have been more than 1.8 million coronavirus cases in the United States and the death toll has surpassed 105,000 people. U.S. has the most cases and deaths of any country, though the WHO recently said Latin America is the new epicenter of the pandemic. The CDC’s estimate a possible range of 115,400 to 134,800 deaths before the end of next month, told on its website.
2
SpaceX rocket launches 2 American astronauts Robert Behnken and Douglas Hurley into orbit lifted off at 3:22 p.m. EDT Saturday on the company’s Falcon 9 rocket from Launch Complex 39A at NASA’s Kennedy Space Center in Florida — mission marks first human launch from U.S. soil in nearly a decade. This mission is known as NASA’s SpaceX Demo-2. SpaceX is now the first company to send a human into orbit on a privately made vehicle. The astronauts have reached the International Space Station on Sunday morning. The 2 astronauts will spend a couple of months on board the space station before getting back. NASA said that it will also provide the Demo 2-mission live coverage. Click here to watch the mission live.
17
Meanwhile, we have a new Guinness World Record. A man in the US named David Rush, who made the best out of a sour taste for a sweet achievement after he drank a 1-liter of 100% lemon juice through a straw in under 17 seconds for Guinness World Record. He managed to empty the glass containing a 1-liter lemon juice in 16.53 seconds, beating the previous time record of 17.12 seconds set by Andre Ortolf. Earlier, he has broken more than 125 Guinness records for juggling, balancing, and many more with a mission to promote STEM.