The prime-age women’s participation rate in the job market was down to 74.3% in May compared with 77% in February, the month before the coronavirus led to widespread job losses. Prime-age men’s participation in the Job market rate was 87.2% in May compared with 89.3% in February, earlier than the pandemic reached the U.S, according to WSJ. The coronavirus job losses are disproportionately affecting women, costing the global economy $1 trillion as female workers fall out of the workforce amid the pandemic — this represents 1.2 percentage points of the 3.2 percentage point drop in GDP expecting for 2020,” said by Citi economists Dana Peterson. The figure shows that women’s job losses from pandemic aren’t good for economic recovery.
New York City is now allowing thousands of workers to return to their offices on Monday after a 3 months coronavirus lockdown — phase 2 reopening plan began and many workers are fearful about going back in. Up to 90 percent of employees will not return to their jobs this week due to virus fears, experts say. Some companies are opening with reduced occupancy and allowing employees the option to continue working from home, while others plan to keep offices closed. Real estate brokers and landlords are expecting that only 10 to 20 percent of Manhattan’s workers will return to their offices. Mayor Bill de Blasio expecting that up to 300,000 workers will return to their jobs this week.
The COVID-19 pandemic is forcing U.S. employers to rethink how they hire, trying tactics like remote onboarding, and curbside job fairs to reduce risks. Changes in recruiting formats during the pandemic might inspire new norms going forward. Some businesses hope to bring back their best workers who were laid off or furloughed without triggering discrimination claims from others left unemployed, according to The Wall Street Journal. While the ManpowerGroup Employment Outlook Survey of more than 7, 7000 U.S. employers stated that hiring has dropped dramatically and the survey found that 60% of companies expected to return to pre-pandemic hiring levels before the end of 2020.
U.S. retail sales surge a record 18% from April to May — the biggest monthly gain on record, dating back to 1992, the U.S. Department of Commerce said. Sales had tumbled by a record 14.7% in April and March (8.3%), revised statistics show. Clothing and accessories stores reported the biggest percentage gain (188%), home-furnishing stores (90%) and sporting goods, musical instruments, books stores rose 88% — it seems consumers started to spend again on just about everything. The health and personal care sector have fared relatively poorly as sales rose a scant 0.4%.
Millions of Google Chrome users are targeted in a spyware attack that used web browser extensions to steal browsing history and login details, Cybersecurity firm Awake Security told to Reuters — highlighting the tech industry’s failure to protect browsers as they are used more for payroll, email, and other sensitive functions. The spyware attacked users through 32 million downloads of extensions to Google’s market-leading Chrome web browser — impacted a wide range of sectors including financial services, healthcare, and government organizations, according to a new report.
Amazon announced on Tuesday that it will launch a $2 billion fund to invest in startups building sustainable technology — a new venture capital investment program to reduce the impact of climate change. The amazon new fund called “The Climate Pledge Fund” will be invested in companies across industries such as transportation and logistics, manufacturing and materials, energy, storage and utilization, and food and agriculture to help companies reduce their carbon impact and operate more sustainably, Amazon CEO Jeff Bezos said in a statement.
50% of U.S. adults said their personal finances are “excellent or good”, while 33% rate it as “only fair” and 14% as “poor”, according to Gallup survey taken between May 28 and June 4. This overall increase in ratings of personal finances may reflect the return of millions of Americans to work, though unemployment remains higher than at any point since the Great Depression. Meanwhile, 41% to 37% of Americans say the situation “getting better rather than worse”. However, compared with the April survey, ratings of personal finances have improved the most among adults aged 65 and older, the survey found.
Americans living with disabilities, particularly intellectual and developmental disabilities need to stay at home even as many states reopen from lockdown because COVID-19 may result in long-term disability, in the form of heart and lung complications, experts said. Director of the Mongan Institute for Health Policy Dr.Lisa said that’s because the challenges posed by the new coronavirus, severe acute respiratory syndrome coronavirus 2(SARS-CoV-2) aren’t limited to concerns over health and prognosis. CDC reported that 61 million U.S adults — about 1 in 4 Americans have a disability whereas 13% of Americans have a mobility disability and 2 million use wheelchairs, making it difficult for them to get to a hospital.
Police capture 65-pound turtle from Virginia suburb — a large turtle was reported crossing a road in Fairfax County. The animal was identified as an alligator snapping turtle, a species that is not native to Virginia. The alligator snapping turtle can grow as big as 200 pounds (90 kilograms). Northern Virginia's climate would have been too cold for him to live in the wild. It will live at the Virginia Zoo in Norfolk, where it will hopefully be part of a new exhibit, said the officers.