US companies across sectors have laid off millions of employees during COVID-19. As per the report published by the Department of Labor, the total number of people claiming unemployment insurance for the week ending July 4, without any seasonal adjustments equaled 31.8 million.
Intellizence monitors mass layoffs announcements in companies across sectors, for customer intelligence, market intelligence, sales intelligence, competitive intelligence, and risk intelligence purposes. Intellizence offers Layoff Dataset – data is collected from various public sources (news, state labor department filings, etc.), normalized, enriched with company details, and offered through the API and Web App.
The following insights are based on the analysis of layoff announcements ( 1Million+ jobs, 10,000+ companies) from April to June 2020.
- Top 10 sectors that laid-off employees are
- Tourism & Hospitality
- Restaurants & Food Services
- Media & Entertainment
- Non-Profit/ NGO
- Sports, Fitness & Recreation
- Consumer Products
- There has been a decline in layoffs in most sectors, except in -Tourism & Hospitality, Aviation – that continue to show an increasing trend
- While Healthcare is a busy sector during this pandemic, some non-critical healthcare specialties like Eye, Dental Services, Orthopedic, Women Health, Dermatology, etc., have laid off their employees
- Around 50% of the layoffs are temporary/furloughs
- Over 100 companies laid-off 1000+ positions
- Major layoffs happened in the three largest states California, New York, and Florida
- The number of layoffs peaked during May 2020
Watch out for regular updates on Layoff Trends in the Intellizence Layoff Insights section.