Millions of lost US jobs will go unreplenished for years, according to IRS forecast

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• US employment is likely to be lower by millions of jobs for years following the coronavirus pandemic and ensuing recession, according to a Thursday report from the Internal Revenue Service.
• The IRS report estimates that there will be about 229.4 million W-2 jobs made in 2020, about 37 million fewer than the year before.
• And, the IRS sees lower W-2 filings persisting until 2021, with nearly 16 million fewer forms filed in that year compared to 2019, before the coronavirus pandemic hit. 
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Lower employment could persist in the US for years following the coronavirus pandemic, according to a Thursday report from the Internal Revenue Service.

The IRS report estimates that there will be about 229.4 million W-2 jobs made in 2020, about 37 million fewer than the year before. The figure is a forecast of how many W-2 tax forms — which show employee wages and witholding —the agency respects to receive in the 2021 calendar year. 

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