A record number of U.S. workers said that they are likely to be laid off in the next 12 months as the unemployment rate is rising in the wake of the CCP Virus outbreak, according to the latest Gallup poll.
The poll, released on April 22, showed that one-quarter of employed U.S. adults think they are likely to lose their jobs in the next year, with 9% saying it is “very likely” and 16% saying “fairly likely.”
The latest reading represents a record-high percentage of U.S. workers who think they will get laid off in Gallup’s 45-year trend, and it comes one year after hitting 8%, which matched the lowest level.
The number also dwarfs the previous record of 21% seen after the financial crisis in 2008.
The poll showed that 37% of workers employed full or part time think they are “not too likely” and 38% say they are “not at all likely” to lose jobs or be laid off.
Few employed Americans predict that they would last a year (12%) or longer (12%) before experiencing significant hardship if they were to lose their jobs. Three-quarters said they would last less than a year, including 13% who could go only one week, 28% up to one month, and 34% no more than four months.
Gallup conducted the poll from April 1 to 14 as more than 20 million U.S. workers have filed for unemployment benefits, and many more have been furloughed by their employers, meaning they continue to receive benefits, though not pay.
The CCP Virus pandemic has led Americans to be fearful about losing their own job, as well as shaken their confidence in the U.S. economy.
Another poll also released Wednesday by Morning Consult showed that U.S. consumer confidence has ticked up from a record drop, but they are not getting their hopes up.
The Morning Consult index had fallen to a record low of 81.23 in the first week of April from a record high of 115.7 in February. It’s since edged up a few points as it appears the worst of the virus pandemic is past.