Covington Investment Advisors, Inc. Blog

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Job Losses Update

How Quickly Will Job Losses Recover?

This year’s huge job losses have almost been entirely attributed to the COVID-19 pandemic. This has played a huge role in why forecasters believe the vast majority of the losses will be temporary and the job market will see a quick snap back along with consumer spending buoyed by Ecommerce and fiscal support. The key question is how many of these jobs will never come back. It is also likely that many of these jobs may be restructured from shrinking industries into those which have seen their business growth accelerate due to the virus. These sort of shifts could create a drag on how quickly the nation returns to pre-COVID levels of employment.

 

Commentary Disclosures: Covington Investment Advisors, Inc. prepared this material for informational purposes only and is not an offer or solicitation to buy or sell. The information provided is for general guidance and is not a personal recommendation for any particular investor or client and does not take into account the financial, investment or other objectives or needs of a particular investor or client. Clients and investors should consider other factors in making their investment decision while taking into account the current market environment.

Covington Investment Advisors, Inc. uses reasonable efforts to obtain information from sources which it believes to be reliable. Any comments and opinions made in this correspondence are subject to change without notice. Past performance is no indication of future results.

 

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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148
Email: covington@covingtoninvestment.com