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COVID – Lifting lockdowns and the economic recovery
The pandemic could give rise to a new era of human development. Otherwise, economic and social development may falter for decades. Exhibit 1 shows how different levels of physical isolation affect economic conditions. A recession could occur if faltering demand, restricted supply, and lost income reach critical levels. The differences between scenarios could be tenfold: … Continue reading
COVID and Work in Mexico- Killing workers at U.S. factories
Throughout March, even as business and manufacturing slowed to a halt across much of the world in an effort to contain the new coronavirus, work in foreign-owned factories in northern Mexico carried on as usual.Hundreds of thousands of workers continued to toil side by side in Juarez, Tijuana and other border cities, churning out electronics, … Continue reading
COVID ans Unemployment in LA – Less than half of Los Angeles County residents report having jobs, survey finds
According to a University of Southern California study, Los Angeles has been one of the American cities hit hardest by unemployment during the coronavirus pandemic, with just less than half residents reporting that they held a job in April. Chosen excerpts by Job Market Monitor. Read the whole story @ Less Than Half Of Los Angeles County … Continue reading
COVID, Jobs and Lockdown in UK – Can take more than 6.5m jobs out of the economy
Estimates produced by the Institute for Social and Economic Research (ISER) at the University of Essex suggest the lockdown can take more than 6.5m jobs out of the economy -around a quarter of the total.The study led by Professor Matteo Richiardi with ISER researcher Diego Collado uses ONS data to predict job losses by sector.Using … Continue reading
COVID and Lockdown – The costs of constraining the virus and the benefits
Some economists and business leaders believe the costs of constraining the virus have exceeded the benefits. They point to unemployment totals not seen since the Depression and entire industries shut down, compared to virus death totals that may reach only the numbers from a bad flu season (55,000).As more data become available, the epidemiological trajectory … Continue reading
COVID and Health Insurance in US – 9.2 million workers likely lost their employer-provided health insurance in the past four weeks
We estimate that 9.2 million workers were at high risk of losing their employer-provided health insurance in the past four weeks. To avoid prohibitively costly insurance options, the federal government should fund an expansion of Medicare and Medicaid to all those suffering job losses during the pandemic period.Two weeks ago, when the two-week total of … Continue reading
COVID and Lockdown Lifting in US – 66% say they are more concerned that these restrictions will be lifted too quickly
With substantial limits in place on public activity in most states to combat the coronavirus outbreak, 66% of Americans say they are more concerned that these restrictions will be lifted too quickly, while 32% say they are more concerned they won’t be lifted quickly enough.With substantial limits in place on public activity in most states … Continue reading
COVID, CERB and Social Assistance in Ontario – Reinstating benefits to those who lost them after receiving emergency relief payments
Ontario’s indecision over how to treat federal income support for workers on social assistance during the COVID-19 crisis has caused at least one person with disabilities to lose his benefits, including drug and medical coverage, the Star has learned.“We’ve been warning the government this would happen,” said Kyle Vose, co-chair of the ODSP Action Coalition … Continue reading
COVID and Schools in US – 31 states and Washington, DC have ordered or recommended that they remain closed
The majority of governors in the United States have ordered or recommended that statewide school closures continue for the rest of the academic year to help reduce the spread of the novel coronavirus.This is where all 50 states stand on reopeningSeveral states have announced their plans to begin lifting social distancing measures and the federal … Continue reading
COVID and Work in Canada – Half have seen change in the status of their employment
In a random sampling of public opinion taken by The Forum Poll™ among 1335 Canadian voters, more than eight in 10 (TOP2: 85%) say they’re concerned about COVID-19, with half (52%) saying they’re very concerned. This is up considerably from the beginning of March, where just under two-thirds were concerned (TOP2: 62%, March 6) and … Continue reading
Coronavirus Job Retention Scheme in UK – Estimated total cost at as much as 56 billion pounds
Britain’s bailout battle is heating up before the first penny has even been paid in an unprecedented effort to save jobs amid the coronavirus pandemic. While more than half of U.K. companies are expected to apply for government grants to pay furloughed employees, critics say they expect too much of the cash to go where … Continue reading
COVID in UK – Job retention scheme extended by one month
The Treasury’s coronavirus job retention scheme paying 80 per cent of wages for furloughed workers is being extended by a month to the end of June, chancellor Rishi Sunak has announced.The move comes a day ahead of Saturday’s deadline for employers to issue redundancy notices for staff being laid off at the end of next … Continue reading
COVID in America – Pictures from the Great Depression and from last week
Straggling in a Good Economy, and Now Struggling in a Crisis The coronavirus pandemic has shown how close to the edge many Americans were living, with pay and benefits eroding even as corporate profits surged. Chosen excerpts by Job Market Monitor. Read the whole story @ Coronavirus Crisis Underlines Weak Spots in U.S. Economic System – The … Continue reading
COVID and Working from Home in Canada – A large increase with Approximately 4.7 million Canadians who do not usually work from home did so
Approximately 4.7 million Canadians who do not usually work from home did so during the week of March 22 to 28. Chart 1 Almost five million workers who don’t usually work from home did so during the week of March 22 to March 28, 2020 When those who usually work from home are included, 4 in 10 workers (39.1% or 6.8 million) worked from home during the week of March 22. About … Continue reading
COVID and Quebec Economy – A drop 3.5 times larger than the one recorded during the recession in 2009 but a sharp rebound next year the Conference Board says
Quebec’s economy has grown at a brisk pace over the past few years, with real GDP expanding by an annual average of 2.8 per cent between 2017 and 2019. However, the coronavirus pandemic will throw Quebec’s economy into a tailspin this year, with real GDP forecast to decline by 3.8 per cent—a drop 3.5 times … Continue reading
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