There is no doubt that the COVID-19 crisis is affecting the US economy and labor markets in an unprecedented way. The leisure, hospitality and retail industries have been hit the hardest by shutdown orders nationwide but new research that uses data from Homebase, a time-tracking software, to provide real-time employment estimates shows that the report by the Bureau of Labor Statistics, expected later this week, may not capture the full extent of the contraction.
Source: Real-time data show COVID-19 led to 60% drop in leisure, hospitality and retail employment