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Title: Covid 19 and Impact on Employment
Contents
Introduction    3
Literature    3
Considered Data    4
Results    4
Conclusion/ Summary    5
Works Cited    6
Introduction
The US labor market continues to be severely impacted by the COVID-19 outbreak. Millions of Americans submitted fresh first claims for unemployment insurance (UI) in May, even as "stay-at-home" orders began to lessen and some people returned to work. Employers are working at a reduced capacity due to lower demand for their services. The social distancing measures required to minimize the virus's propagation are part of the attempt to reduce its spread (Karpman et al.).
Researchers investigate the impacts of the epidemic on adult employment and income in the United States, as well as the extent, to which people in need of assistance have been able to get unemployment benefits. “Data from the first wave of the Urban Institute's Coronavirus Tracking Poll, a nationally representative survey of nonelderly individuals performed from May 14 to 27, 2020, is used”.
Literature
“Over the last six months, efforts to control the spread of the new coronavirus have sent shockwaves through the economy. The official unemployment rate rose from 3.5 percent in February to 14.7 percent in April before falling down to 13.3 percent in May.” From 7.0 percent to 21.2 percent of the labor force was jobless or was working part-time for economic reasons. The Pandemic Unemployment Compensation Act significantly increased the availability and value of UI payments (Gonzalez et al.). Some jobless people will get more money through UI than they would have earned if they worked.
Not everyone who lost their employment will receive benefits, but researcher anticipates that the percentage will be larger as an outcome of the...