That said, unemployment is still rife, and as businesses have now suffered months of disrupted trade, many layoffs have already happened and are likely to continue. Studies have also shown that those with a low-income job are twice as likely to be made redundant, with industries such as travel and hospitality, which have high proportions of lower paid workers, being hit particularly badly. In the US, despite the $2 trillion (£1.6trn) CARES Act (Coronavirus Aid, Relief, and Economic Security) package which includes the offer of one-off payments of up to $1,200 (£968) to individuals impacted by the pandemic, nearly 40 million Americans are now seeking unemployment benefits, which is almost a quarter of the US workforce. The country hasn't seen this level of disruption to the job market since the Great Recession.
Now read: Coronavirus, how job losses compare across the world