Ad Spot

Hiring soared in May as mass layoffs eased

WASHINGTON — The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April.

The Labor Department reported Tuesday that the number of available jobs rose sharply as well, but remained far below pre-pandemic levels.

The figures, from the government’s Job Openings and Labor Turnover survey, or JOLTS, illustrate the whiplash the economy has experienced since the pandemic intensified in mid-March. Layoffs soared in March to a stunning 11.5 million, roughly four times the peak during the 2008-2009 recession. They remained extraordinarily high in April, at 7.7 million, but in May they fell back to pre-pandemic levels of 1.8 million.

Hiring, meanwhile, plunged in April to 4 million, the lowest level since 2011, but jumped to 6.5 million in May. While that is the most hires on records dating back to 2000, it wasn’t nearly enough to offset the roughly 19 million layoffs in March and April.

And whatever ground has been recaptured to this point is now being imperiled by a resurgence of COVID-19 cases throughout the South and West. Despite a solid rebound in employment, the job market remains badly damaged, both by mandatory lockdowns and the reluctance of people to again visit restaurants, theaters or to travel freely, at least until a vaccine or an effective treatment for the virus is available.

The JOLTS report provides gross totals of hiring and layoffs, while the monthly jobs report, which also includes the unemployment rate, is a net figure of total jobs gained or lost.

On Thursday, the jobs report showed that employers added a net total of 4.8 million jobs in June, after a gain of 2.7 million in May. Even those huge net gains recaptured only one-third of job lost in March and April and the unemployment rate is 11.1%, down from its April and May levels but otherwise higher than at any time since the Depression.

Employers advertised 5.4 million jobs in May, about 10% higher than in April, but still below pre-pandemic levels of about 7 million.

Mower County

MDH reports 6 new COVID-19 cases in Mower County

News

Minn. congressional hopefuls stress their farm bona fides

Crime, Courts & Emergencies

Man charged with breaking into apartment, holding woman hostage

News

1.2 million seek jobless aid after $600 federal check ends

Business

Hy-Vee stores now accept SNAP/EBT as payment for grocery pick-up orders

Health

MDH reports 4 new COVID-19 cases in Mower County

News

World responds to Lebanon’s plight, France’s Macron to visit

Local Government

Mayor candidate Q&A: Making Austin a welcoming community

Mower County

County board allocates CARES Act funds

Mower County

A change of seasons

Local Government

Council aiming for four percent tax levy increase

News

Minneapolis mayor: City seeks right mentors for new officers

Local Government

Council prioritizes Hormel Foundation grant requests

Local Government

Council looking to add more land to city deer hunt

Mower County

Friends of the Public Library hosting virtual costume contest

News

Voters sue Walz to block face masks at Minnesota polls

News

Some critics see sexism in debate over Biden VP

News

2020 Minnesota Governor’s Pheasant Hunt Opener postponed

Mower County

3 new COVID-19 cases brings cases to 1,084

News

‘A line in the sand’: Both sides dig in on virus relief bill

Mower County

Zonta International commemorated World Day Against Trafficking in Persons

Mower County

‘Karl’s Tourney’ is on with an online fundraiser

Health

Weekend sees 17 COVID-19 case increase in Mower County

News

Virus relief bill remains up in air as negotiations resume