Job Market Monitor
Michel Cournoyer
COVID in – More jobs lost than US did during the Depression
While we wait to get a clearer picture of the health coronavirus curve in India, we already have the first estimate of the job-destruction caused by the nation-wide lockdown. The numbers are staggering, worse than anything the world has ever known. More jobs were lost in India in the last two weeks than anything ever … Continue reading
COVID in China – The worst job market in 20 years
China faces its worst job market in more than two decades, with tens of millions of people temporarily without work or unemployed in the first three months of 2020 and the number of jobs set to shrink by more than 10 million this year, according to UBS Group AG economists. About 70-80 million people in … Continue reading
COVID and Unemployment Insurance in US – what has congress already done to address the current crisis?
WHAT HAS CONGRESS ALREADY DONE TO ADDRESS THE CURRENT CRISIS? The CARES Act—a $2 trillion relief package aimed at alleviating the economic fallout from the COVID-19 pandemic—extends the duration of UI benefits by 13 weeks and increases payments by $600 per week through July 31st. This implies that maximum UI benefits will exceed 90 percent … Continue reading
COVID in Japan – Main points of the US$1 trillion emergency package
Japan is unleashing economic stimulus measures worth about US$1 trillion as it battles the COVID-19 outbreak, which has prompted a state of emergency in several parts of the country, including Tokyo. The package, valued at 108 trillion yen, envisages the government spending 39.5 trillion yen to protect jobs, bolster the medical sector and ease the … Continue reading
COVID and Wages in UK – Large cuts may come if you are younger and work in a small firm
The Covid-19 pandemic is turning into a global recession – probably the biggest drop in economic activity since the Great Depression of the 1930s. The latest forecasts put UK and US GDP both down by about 10% in Q2 2020 (40% on an annualized basis). GDP is an important measure of economic wellbeing, but the … Continue reading
COVID in US – Putting the 240,000 projections in perspective
In 2017, a total of about 2.8 million people died in the United States, according to the Centers for Disease Control and Prevention. The leading cause, as usual, was heart disease, which killed 647,457 people. At a high of 240,000 fatalities (assuming we continue to social distance, and assuming for the moment that the White … Continue reading
COVID and Productivity – Canadians workers boost productivity working at home while European colleagues lag behind
Software-as-a-service monitoring company tracks how much time employees spend using Outlook, Excel, and Salesforce. Productivity is up in Canada, slightly down in the US, and significantly down in Europe, according to a new analysis of work at home activity. From Feb. 24 through March 26, workers in North America slightly increased their overall productivity by … Continue reading
COVID and Government in Canada – An overall review
The past few days have seen multiple announcements from governments across Canada. To help make things easier for employers, we summarized below those announcements that touch on workplace issues. Starting with the Federal Government, we then set out the announcements from each province, in alphabetical order. Chosen excerpts by Job Market Monitor. Read the whole story … Continue reading
COVID and Kurzarbeit in Germany – How workers are paid when their work dries up
The state-funded German safety net known as Kurzarbeit, which keeps salaries flowing to workers even when their work has dried up, is getting renewed attention as governments around the world grapple with the economic fallout of the coronavirus pandemic. The European Commission is using the German program as a model for a regional effort to … Continue reading
COVID and Workers – The impact is not the same for all types of workers
The world economy is enduring a staggering downturn amidst the spread of COVID-19. Individuals are already suffering immediate losses in terms of income and employment. Economists have been quick to call for governments to take strong coordinated actions (e.g. Baldwin 2020, Bénassy-Quéré et al. 2020). Early survey data suggests that uncertainty for businesses has heightened … Continue reading
COVID Global Impact on Jobs – Equivalent to 195 million full-time workers estimates ILO
X Since the first ILO Monitor, the COVID-19 pandemic has further accelerated in terms of intensity and expanded its global reach. Full or partial lockdown measures are now affecting almost 2.7 billion workers, representing around 81 per cent of the world’s workforce. X In the current situation, businesses across a range of economic sectors are … Continue reading
COVID au Canada – Exposition liée aux voyages
Les cas de COVID-19 liés à un voyage sont plus fréquents chez les hommes Au Canada, environ 52 % des cas de COVID-19 liés à un voyage concernent des hommes, et 48 %, des femmes. Environ 9 % des cas liés à un voyage ont été hospitalisés (parmi ceux dont on connaît la situation en matière d’hospitalisation), et … Continue reading
Canadians and COVID – Statistics Canada has developed a new web panel survey
The novel coronavirus (also known as COVID-19) is having a profound effect on the health, behaviour and social activities of Canadians. Federal, provincial and territorial governments have recently introduced a series of measures to limit the spread of the virus, including physical distancing. To get timely information about how Canadians are coping with COVID-19, Statistics … Continue reading
COVID et les Canadiens – Statistique Canada a élaboré une nouvelle enquête par panel en ligne
Statistique Canada a élaboré une nouvelle enquête par panel en ligne. Plus de 4 600 répondants dans les 10 provinces ont participé à cette enquête, qui a été menée du 29 mars au 3 avril. Les renseignements recueillis seront utilisés par des organismes gouvernementaux, comme l’Agence de la santé publique du Canada et Emploi et Développement social Canada, en vue d’orienter la réponse du … Continue reading
COVID and the Economy – Could it be that the operation was successful but the patient died ?
In a typical business cycle, as money and credit expand in the economy, a surge in inflation eventually followed, prompting the Fed to raise interest rates in an effort to cool down the economy and control inflation. This typically led to a recession. This recession, or possibly depression, is government-induced as non-essential businesses remain closed … Continue reading
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