COVID-19 Business Index: A bi-weekly report on the state of business in the US – Cycle Two
$1.3 trillion in annualized income has been lost by workers across the United States, according to new data from Oxford Economics and SHRM, based on a survey of HR professionals in the US conducted between April 27 and May 1. Of this $1.3 trillion, 20% represents earnings reductions among those fortunate enough to still have jobs. In addition to rising unemployment, declining income among those still working will likely provide further downward pressure on economic growth.
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