Precautionary measures taken to slow the spread of the Coronavirus are having a devastating impact on employees in hospitality, entertainment and leisure, among other industries. An article in the WSJ reports that the Union Hospitality Group recently eliminated 2,000 jobs, which equates to 80% of the workforce. The number is expected to get far worse. Per the article:
“Unite Here, a labor union that represents over 300,000 people working in hotels, gaming, food service, manufacturing, textiles, laundry, transportation and airports in the U.S. and Canada, said Wednesday it expects 80% to 90% of those workers to be laid off.”
In response, unemployment claims are skyrocketing. Kentucky, which typically handles 2,000 cases per week, saw 9,000 just this past Tuesday (March 17, 2020). The article cites a handful of examples and comments on the Energy industry as well (click on the link below for more detail), but perhaps the most alarming statistic cited is that the Economic Policy Institute estimates that in total 3 million jobs will be lost by summer.