Report: COVID-19 will lead to wage reductions, layoffs in 40% of all jobs in Puget Sound region
Hundreds of thousands of workers in King County and across Washington state are in industries that are at immediate risk due to impacts from the outbreak of the novel coronavirus, according to a new report.
A new report commissioned by the Seattle Metropolitan Chamber of Commerce estimates about 40% of all jobs in King, Snohomish and Pierce counties will be in the very near-term impacted "severely" by COVID-19 in the form of wage reductions or temporary layoffs. A lot of these jobs will start up again once the social distancing measures are lifted, the report said, but it warns: "Not all businesses will survive the challenge."
"The Puget Sound economy is experiencing an economic shock that will take many months and beyond to recover from," the report said.
The report identified industries at immediate risk and likely near risk from impacts related to the spread of the virus. It found, using data from the first three quarters of 2019, that 656,400 workers in King County are in industries that fall into those categories, with 288,100 in industries at immediate risk and 368,300 at likely near-term risk.
https://www.msn.com/en-us/news/us/report-covid-19-will-lead-to-wage-reductions-layoffs-in-40-of-all-jobs-in-puget-sound-region/ar-BB11r722?ocid=hplocalnews
= new reply since forum marked as read
