Kinexus Group: Jobs Picture Looks Better Than Expected

The area’s jobs picture is looking better than had been expected. Kinexus Group chief operations officer Jake Gustafson says summer has improved since the start of the COVID-19 pandemic.

“The job bounceback is much better than we expected,” says Gustafson. “The concern had been we thought we were going to be in double-digit unemployment numbers, in a pretty conservative estimate, through the end of quarter four in 2020.”

Gustafson says the jobless rate is back into single-digits.

“This month we registered in at 9.9% unemployment. I want to be cognizant of what I’m saying there. It’s not to celebrate 9.9% unemployment; that’s still more than double what were sitting at in February, but you recognize that’s a one-month positive change of over 3%.”

He adds if normal trends continue, he estimates unemployment will be even lower in August and drop to 8.3%.