The transition rate from temporary to permanent layoffs nearly doubled from June to July.
Goldman Sachs expects further increases in permanent unemployment following the depletion of funds from the Paycheck Protection Program, which was established by the CARES Act to help small businesses pay up to eight weeks of payroll costs.
A monthly survey of 1,057 people, conducted from April to July by the Associated Press and the NORC research group at the University of Chicago, showed that in July, 47 percent of Americans believe those laid off will definitely not or probably not be able to return to the same job once the COVID-19 outbreak is over.The survey results reported in April , May and June showed an increasing portion of Americans believed the prospects of returning to the same job were not possible or likely.
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