Academic Literature

Inflation and Unemployment in US and Europe – The large drop in US core inflation is fully accounted for by sharply higher unemployment but it still a genuine puzzle in the Euro zone

• The years leading up to COVID-19 saw persistently low inflation, … • something that came to be called by some the “missing inflation puzzle.” • Rising unemployment and weak demand are now pushing inflation down, … • though low inflation does not mean that something is automatically “missing.” • We update our Phillips curve … Continue reading →

Social Safety Net in US – It has not led disrupted local economies to recover

Our research indicates that recessions produce enduring economic disruptions to local economies, and this pattern has existed for at least the past five decades. Consequently, recessions likely play a role in the shift of economic activity across places over time; this, in turn, has implications for economic opportunity for people who grow up in areas … Continue reading →

Time Limits to Social Assistance in US – Decreased welfare participation by 22 percent and transfer income by 6 percent

BRIEF HIGHLIGHTS Several states imposed time limits for welfare receipt in the wake of the Great Recession. Stricter time limits decreased welfare participation by 22 percent and transfer income by 6 percent. The time limits tend to decrease earnings in states without generous benefits at baseline. Separation from work and welfare diminishes families’ access to … Continue reading →

COVID in US and Job Training – How does it matter ? (video)

Labor Market Impacts of the Covid in US – Reductions in employment, and the associated increases in employment exit rates and decreases in hiring rates, were disproportionately concentrated in low-wage jobs

We study the distributional consequences of the Covid-19 pandemic’s impacts on employment. Using data through April 2020 from the Current Population Survey (CPS) — the primary source of labor force statistics for the United States — we document three key facts. First, we show that the pandemic-induced reductions in employment, and the associated increases in … Continue reading →

COVID, Jobs and Recovery in US – Lockdown of 3 months is going to have long-lasting negative effects on unemployment research finds

In March 2020, the US entered a “lockdown” so as to prevent the spread of the novel coronavirus. The vast majority of residents of the United States have been ordered to stay at home. Most retail businesses have been ordered to shut down. Most workers have been ordered to stay away from their place of … Continue reading →

COVID and Layoffs un US – 42 percent of recent layoffs will result in permanent job loss research finds

The COVID-19 pandemic and efforts to contain the virus are exacting a staggering economic toll in countries around the world. China’s economy shrank 6.8 percent in the first quarter of 2020 on a year-on-year basis, and Eurozone economies shrank at a 14.8 percent annualized rate. In the United States, nearly 28 million persons filed new … Continue reading →

COVID and Labor Market in US – Vacancy postings collapsed by 30% at the same time as initial claims spiked

In this report, we analyse both UI claims data and vacancy data from Burning Glass Technologies to provide a more detailed account of how the labor market evolved over the last weeks. In particular, we ask how broad-based the deterioration in market conditions over the second half of March and the first half of April … Continue reading →

COVID and Labor Force Indicators in US – Job loss has been significantly large, those losing jobs are not actively looking to find new ones and participation in the labor force has declined by 7 pp

The arrival of the covid-19 virus and the policy responses have led to unprecedented numbers of initial claims for unemployment since early 2020: over 16.5 million by April 4 th, 2020, with new claims arriving at a rate of 6-7 million per week. But concerns about state governments’ inability to process so many claims in such … Continue reading →

COVID and Deaths in Europe – Measuring the true toll

EuroMOMO’s epidemiologists [collect] mortality data on a weekly basis across Europe… And while they don’t break down the absolute numbers of fatalities by country, they do provide a trend chart for each member state on their website. Chosen excerpts by Job Market Monitor. Read the whole story @ Measuring the true toll of the pandemic – The … Continue reading →

Online Learning in Community Colleges – Tools to facilitate student success

Community colleges have embraced distance education as a means to provide increased flexibility and access to their large numbers of non-traditional students. Retention rates and student achievement measures alone may not reflect all of the benefits and opportunities that online learning, blended or hybrid learning, and technology-enhanced learning may afford these students. Online learning resources … Continue reading →

COVID and Inequality – High-paid workers benefit from the home office option

Home office at full pay is not an option for all employees hit by the coronavirus crisis. To analyze changes in work arrangements during the pandemic, a team of economists from the University of Bonn, IZA and the University of Tilburg surveyed around 5,500 individuals in the Netherlands from March 20-31. The results show that … Continue reading →

Great Recession in Europe and North America – At least 10 000 additional “economic suicides” between 2008 and 2010

There has been a substantial rise in ‘economic suicides’ in the Great Recessions afflicting Europe and North America. We estimate that the Great Recession is associated with at least 10 000 additional economic suicides between 2008 and 2010. A critical question for policy and psychiatric practice is whether these suicide rises are inevitable. Marked cross-national … Continue reading →

Minimum wage in US – Employers do not always comply with minimum wage increases

Using data from the Current Population Survey, Jeffrey Clemens of the University of California, San Diego, and Michael Strain of the American Enterprise Institute find that some employers in the low-wage labor market pay workers less than the minimum wage. Examining a series of minimum wage increases from 2011 to 2019, the authors estimate that … Continue reading →

What is a Recession – The Business Cycle Dating Committee of the National Bureau of Economic Research

The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an … Continue reading →