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'The silver lining': 72% of jobs lost in April could soon return as the economy reopens - Business Insider

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'The silver lining': 72% of jobs lost in April could soon return as the economy reopens

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.A majority of workers in Friday's April jobs report are classified as unemployed on temporary layoff, which could be a good sign as state economies slowly reopen.

Still, the number is a "very cautious and conditional glimmer of hope," Nick Bunker, an economist at Indeed, told Business Insider, because what's temporary could become permanent. The April jobs report released by the Labor Department Friday showed thatas the coronavirus pandemic continued to slam the US economy.

Within the report's household survey, employment contracted by 22.3 million, and the number of people classified as unemployed on temporary layoff increased by 16.2 million — 72% of net jobs lost, according to Bank of America.

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You're messing with the fear-mongering tweets tho

Wrong. Most of them won't want to go back to work. Why should they when bloated unemployment benefits pay them more?!

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