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COVID and Jobs in US – Ravaging is poised to ramp up survey says
Covid-19’s ravaging of American jobs is poised to ramp up, a survey released today by PricewaterhouseCoopers LLP indicates. In a survey of more than 300 U.S. chief financial officers, 26% said they expect layoffs due to the financial impact of the new coronavirus. That’s up from 16% two weeks ago when PwC put the same … Continue reading
COVID and Seasonal Workers in UK – Government asks millions of students and furloughed workers to pick fruit and veg
Farms won’t be able to recruit seasonal fruit and veg pickers from Europe, so those at a loose end will be asked to step in under the ‘Pick for Britain’ scheme. The government is to ask millions of university students and furloughed workers to pick fruit and veg amid the coronavirus crisis in a national … Continue reading
COVID and Human-Capital – The negative effects of unemployment on it is extensive
Workers experiencing unemployment in a downturn can be permanently scarred. They are less able to form durable attachments with employers and more likely to experience additional episodes of joblessness. Their wages tend to be lower, not just in the immediate aftermath of the event, but for decades, even over their entire working lifetimes. Lower wages … Continue reading
COVID and UI in US – Most states have yet to update their systems to process applications
Even as nearly 17 million Americans have sought unemployment benefits in the past three weeks — a record high, by far — millions of people appear to be falling through the cracks. They can’t get through jammed phone systems or finish their applications on overloaded websites. Or they’re confused about whether or how to apply. … Continue reading
COVID and Jobs Recovery in US – 2.5 million jobs lost through 2021 according to survey
The number of jobs destroyed by the U.S. economy’s crisis-driven sudden stop could top 4.5 million, according to the median estimate of 45 forecasters surveyed by the National Association for Business Economics. Fewer than 2 million of those positions will be recovered by the end of 2021, the economists expect, pushing the unemployment rate above … Continue reading
COVID and Grads – Recruitment is on hold
Students are starting to realise they will be graduating into a global recession. According to the Institute of Student Employers (ISE), many firms have scaled down their recruitment of entry-level staff and more than a quarter of businesses are reducing the number of graduates they hire this year. While some firms are moving assessments and … Continue reading
COVID and Wage Subsidy in Ireland – A group of 570 employers had failed to set up the refund accounts
Trade union Unite has urged more construction sector employers to avail of the Government’s Covid-19 temporary wage subsidy scheme, saying it is “morally unacceptable” for profitable contractors to opt for layoffs instead. The union, which represents workers throughout the sector, has written to Minister for Finance Paschal Donohoe to express concern at the failure of … Continue reading
COVID in Europe – How countries plot a path back to normal life
As the coronavirus epidemic continues to claim thousands of lives, how are different countries around Europe plotting a route back to normality? Our journalists and contributors give their latest insights. ‘Is it too soon? How will social distancing be kept up?’ Emma Firth, Copenhagen, Denmark ‘We’re not asking when lockdown will end, just what the … Continue reading
COVID and the Economy in US – JPMorgan now sees economy contracting by 40%, and unemployment reaching 20%
JPMorgan economists cut their second-quarter forecast even more, now expecting the economy will decline by 40%. The economists said the 16.8 million jobless claims filed in the last three weeks indicate a huge surge in job losses, which they estimate at 25 million in April. A number of Wall Street firms expect contractions in the … Continue reading
COVID and the Great Depression – Let’s not pretend it’s anything like 1929
For the most part, though, wages were so low that even employed people could afford only the fewest of non-essentials. There was little entertainment. My father reminisced once that a big night out was when four friends shared the cost of a case of beer and played cards all evening. Chosen excerpts by Job Market … Continue reading
Who Can Help For Overloaded UI in US – Google Creates Unemployment Application Portal for New York State Labor Department
Google said it has created an application portal to help New York State respond to an unprecedented surge in unemployment filings after the economy was shut down by the coronavirus outbreak. The effort, called “Tech Surge”, is a partnership with Google Cloud, Deloitte, and Verizon to improve the reliability of the state’s online and telephone-based … Continue reading
COVIS and Health Care in US – 43,000 Jobs cuts in March, the biggest loss in at least three decades
[Last week) report begins to reveal the impact of the COVID-19 pandemic on employment. More than 700,000 jobs were lost since February. But the world has changed even in the three weeks since these data were collected (second week of March), and the end of this story is not yet in sight. As the chart … Continue reading
Unemployment Insurance Weekly Claims in US (week ending April 4) – 6,606,000, a decrease of 261,000 from the previous week
Record 16.6 million have sought US jobless aid since coronavirus In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, … Continue reading
COVID and the Future of Work – Transforming our work, workforce, and workplace
The trends around future of work are leading to an unleashed organization, connected on digital platforms, and able to work anywhere at anytime. These changes are impacting all industries as advances in technology fundamentally change the work itself, who does the work, and where it needs to be done. An organization with a Future of … Continue reading
COVID, Work and families in Canada – What are their employers doing to help?
As COVID-19 continues to shift the daily rhythms of Canadian households, millions of Canadians are feeling the pinch to balance competing demands of work and family. What are their employers doing to help? The Conference Board has asked organizations across Canada how they’re accommodating employees with family responsibilities. Here’s what we found. Chosen excerpts by … Continue reading
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