On average, salaried and hourly workersare in a similar boat when it comes to income reduction, havinglost $640 billion and $629 billion, respectively. (Image:Shutterstock)
U.S. workers have lost a bruising $1.3 trillion in yearlyearnings through layoffs, furloughs and pay cuts during theCOVID-19 pandemic, according to research from the Society forHuman Resource Management and global advisory firm OxfordEconomics.
The data, collected between April 27 and May 1, revealed thatabout 19 million people — 13% of hourly workers and 14% salaried —had been furloughed or made redundant.
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Raychel Lean
Raychel Lean is ALM's Florida bureau chief, overseeing the Daily Business Review. Email her at [email protected] or follow her on Twitter via @raychellean.
