The Labor Department reported that nonfarm payrolls rose by 4.8 million in June and that the unemployment rate fell to 11.1%. This is decidedly good news and suggests that the employment recovery from the precipitous COVID-related drop in March and April continues to reverse course. Combined, 7.5 million jobs were generated in May and June, recouping some of the 22.2 million jobs lost in March and April. Said another way, the June level of payrolls was 14.7 million below February’s.
The COVID-19 pandemic has caused irreparable pain and devastating loss to many families and businesses. The impact has been broad-based, and in response, seniors housing and care operators have been creative, passionate and remarkably effective, given the highly vulnerable nature of their residents, the shortages of critical testing and PPE supplies, and the realities of staffing shortages and financial pressure. Their perspectives on the crisis so far, as well as their insights on what the future holds, were the focus of the latest installment of NIC’s “Leadership Huddle” webinar series, held Thursday, June 18.