Job Market Monitor
A Closer Look
COVID – Scenarios of the economic impact
Amid the fast-moving pandemic and the policy responses, economic forecasting has become an unusually uncertain enterprise. The Organisation for Economic Co-operation and Development, for example, canceled the March release of its forward-looking composite leading indicator. Forecasts in this period must be looked upon with robust skepticism. Moody’s Investors Service, one of the most respected forecasting … Continue reading
COVID and Higher Education in US – Will it be ready to get people back to work?
The traditional strengths of American higher education – the measured and careful design of curriculum, two and four-year degrees that represent substantial learning over time, a rich coming-of-age experience for those who can afford it, stunning campuses – may not be enough to meet the challenges that lie ahead. For this economic crisis, America needs a … Continue reading
COVID and Numeracy – “Fractions are my worst nightmare!”
People all across the U.S. claim that they are “not math people.” They even readily admit to their hatred for some math fundamentals, such as fractions. For instance, a participant in one of our research studies on how well adults understand fractions proclaimed: “Fractions are my worst nightmare!” Could people’s fear and avoidance of math, … Continue reading
COVID and Global Poverty – Additional 548 million people earning less $5.50 per day
Conducted by King’s College London and the Australian National University, the research gauged the short-term impact of containing the coronavirus on global monetary poverty based on the World Bank poverty lines of $1.90, $3.20 and $5.50 a day. Global poverty levels would increase under all three scenarios for the first time since 1990 according to … Continue reading
COVID, Jobs and Women in Canada – Bearing the brunt
Women are at the forefront of the economic crisis as yesterday’s labour force report from Statistics Canada reveals. In March, employment among women aged 25 to 54 years fell by 298,500, more than twice the decrease among men. Nearly half of this decrease (144,000) was among women working part-time, many in low paid service and … Continue reading
COVID and Stock Market – Stocks actually rose during the deadly 1919 influenza pandemic.
Oh, and don’t tell me about the stock market. Stocks actually rose during the deadly 1919 influenza pandemic. “Stock market is a really poor guide and in general to the state of the real economy.” via (9) Paul Krugman on Twitter: “Oh, and don’t tell me about the stock market. Stocks actually rose during the … Continue reading
COVID and Food Security around the World – The Global Food Security Index
The Global Food Security Index considers the core issues of affordability, availability, and quality across a set of 113 countries. The index is a dynamic quantitative and qualitative benchmarking model, constructed from 34 unique indicators, that measures these drivers of food security across both developing and developed countries. This index is the first to examine … 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 and Mortality in Europe – Excess mortality is driven by some countries, primarily seen in the age group of 65 years and above
Pooled estimates from the EuroMOMO network show excess all-cause mortality, overall, for the participating countries; however, this pooled excess mortality is driven by a particularly high excess mortality in some countries, primarily seen in the age group of 65 years and above. Data from 24 participating countries or regions were included in this week’s pooled … Continue reading
US – People working in legal occupations in downturns
People working in legal occupations in the United States experience economic downturns differently than the labor market as a whole. With increased volatility in unemployment rates and significant gender gaps, the comparatively low unemployment in legal occupations may offer little comfort to those trying to maneuver the Covid-19 downturn. According to the Bureau of Labor … Continue reading
COVID and Unemployment – Official jobless figures will miss the economic pain of the pandemic
An estimated 46 million Americans have already been laid off or seen a reduction in hours as a result of COVID-19, according to Gallup survey data collected from March 27 to March 31, 2020. This amounts to around 28% of workers. But these massive losses are unlikely to register in the official data from our … Continue reading
COVID-19 and Capitalism – It is facing at least three major crises
Economist Mariana Mazzucato believes that the COVID-19 pandemic will shine light onto societal and economic systems all across the world, exposing some of the flaws of a capitalist society. She says it is also likely to change the way we view work, especially in regard to the gig economy and workers’ rights. This triple crisis … Continue reading
COVID and Unemployed Canadians – A third of unemployed Canadians (862,000) receive nothing
New federal policies are being created and adapted daily to try and head off the worst-case economic impacts of COVID-19. Many of those modifications are in reaction to advocates pointing out pitfalls in the proposed design of emergency measures. As these programs unfold, I’ve been tracking how well they cover laid off workers who are … Continue reading
Causes of Death – The top 10 vs COVID
Of the 56.9 million deaths worldwide in 2016, more than half (54%) were due to the top 10 causes. Ischaemic heart disease and stroke are the world’s biggest killers, accounting for a combined 15.2 million deaths in 2016. These diseases have remained the leading causes of death globally in the last 15 years. Chosen excerpts … Continue reading
COVID and Seasonal Labor Needs – A race against the clock
As the world faces a pandemic of historic proportions, governments face an array of time-sensitive policy questions. One of the more pressing ones: who is going to produce the food that their populations need? In many highly developed countries, the agriculture and horticulture sectors have long relied on foreign workers amid difficulties recruiting locally for … Continue reading
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