Malls opened bu Retail trade chains still hold one-third of employees on leave without pay

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by Ifi Reporter Category:Capital Market May 13, 2020

Despite the opening of malls and shopping malls, the retail chain industry holds the highest rate of paid leave without leave (ILS): 33% of retail chain employees are still on vacation, compared to an average of 18% in May. The highest among the economic sectors, with the lowest rate recorded in the finance and insurance sectors, where 5.2% of employees are still in the foreign currency. This data comes from a fourth Bezeq survey in May, published by the Central Bureau of Statistics, to examine the state of the business when the Corona virus spread. He has three surveys conducted by the Bureau in March and April to examine the state of business and business The survey was conducted in 1,312 businesses from the high-tech, traditional industries, construction, retail trade, financial services and insurance services.
According to the survey, 9% of businesses have proactively reduced employee wages as a result of the spread of the virus, with wage reductions being mainly in the high-tech industries and large companies. About 60% of businesses reduced up to 25% in wages, and in about 8% of businesses, mainly in the retail trade, construction and industry, businesses were reduced by over 75%.
The high-tech industry stood out in the proportion of businesses that initiated proactive pay cuts. Also during the credit crunch period of 2008, the high-tech was characterized by similar behavior of lowering wages and shortening the work week in order to adapt to the crisis.
Following the guidelines given on May 3 and allowing the economy to return to activity, the number of workers in the USSR fell from 27% in April to 18% in early May, and a decrease in the rate of domestic work from April 19 to 17% in May. In the first survey in March, the percentage of employees present in the workplace exceeded the average percentage of workers required in the workplace to enable full activity, and stood at 53%.
Despite the differences between industries and the size of the business, the overall return to work trend and the decline in the number of workers in the ILA is reflected in all industries and groups. In high-tech industries, which include some 282,000 jobs, the rate of employees in the ILA is the lowest in the four survey waves, thanks to the ability Of the workers in this industry work from home: about 57% of high-tech workers are able to work at home (the highest rate).
The survey also found that in most industries they returned to work in a format where the percentage of employees was higher than the percentage of employees required for full activity, except for the retail trade, where there was still a negative 4% gap. A negative gap is also found among small businesses.
The survey shows a decrease in the extent of the business's revenue loss compared to previous surveys, with 44% of businesses reporting up to 25% in revenue. Business survivability improved over the crisis period: On March 31, 47% of businesses reported that they would not survive beyond a month under the terms and conditions that prevailed at that time, and close to 80% of businesses reported not surviving beyond three months. As some of the restrictions have been removed, the decline can be seen, with the fourth wave falling to 22% and 55% respectively. The state of business survivability in the construction and retail industries continues to be low, with 69% and 64% of businesses reporting that they will not survive beyond three months under current restrictions. In the finance industry, only 11% reported that they would not survive beyond this period.
Businesses have also been asked how difficult they are to implement the contamination prevention guidelines that accompany the easing of the economy; Thus, over 70% of businesses had some difficulty in implementing the guidelines, but 57% of them reported only slight difficulty.

 

 

 

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