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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 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
COVID and Official Data Collection – Muddies U.S. economic data as business closures push down response rates
A near total closure of U.S. businesses as authorities try to control the spread of the novel coronavirus could make U.S. economic data unreliable in the coming months and harder to get a clearer picture of the severity of the recession caused by the virus. A paramedic wheels a patient into an emergency arrival area … Continue reading
COVID and Higher Education – What a recession means
Increasing unemployment and lost revenue for states means that many states will be strapped for cash. Unfortunately, when state budgets become tighter, higher education is one of the first budget lines legislators and governors cut. That’s because they have competing expenses—like Medicaid, prisons, and pensions—and higher education is often the easiest to cut. When states … Continue reading
COVID – How is it impacting the global economy?
Every component of aggregate demand – consumption, capital spending, exports – is in unprecedented free fall. While most self-serving commentators have been anticipating a V-shaped downturn – with output falling sharply for one quarter and then rapidly recovering the next – it should now be clear that the COVID-19 crisis is something else entirely. The … Continue reading
COVID in US – What top CEOs fear
Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn’t begin planning for a phased return to work as soon as May, corporate leaders tell Axios. Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don’t … Continue reading
COVID au Québec – Les scénarios : entre 1263 décès et 8860 au Québec d’ici le 30 avril
• Les courbes présentées dans les graphiques sont basées sur les données empiriques dans certains pays européens. • Chaque pays est ramené à un « Jour 0 » , soit le moment où il a atteint une dizaine de cas. Au Québec, ce moment correspond au 12 mars. • Les scénarios pessimistes concernant le nombre … Continue reading
COVID in Canada – Employment Insurance backlog should be eliminated in the coming week
The federal government has processed one million claims for employment insurance, just under half of the claims received so far as unemployed Canadians flood the system with applications. Federal officials said that, by Friday, the government had received 2.4 million applications, almost matching the 2.8 million claims received in all of 2019. And it says … Continue reading
COVID-19 and Restaurants in Canada – Has cost 800,000 jobs since March 1
Restaurants Canada estimates that 800,000 foodservice jobs have already been lost nationwide due to COVID-19 and might not return if current conditions continue. With restaurants now struggling to pay rent and other bills due in April, the national association has conducted a survey to shed light on the state of the industry. Responses from foodservice … Continue reading
COVID and Jobs in Norway – Unemployment soars to record 14.7% of work force
Norway’s rate of unemployment rose sixfold in March to 14.7%, the Labour and Welfare Agency (NAV) said on Friday, the highest level on record as the economy ground to a halt amid efforts to curb the coronavirus pandemic. As many as 10.7% were fully unemployed, while the remaining 3% were registered as partially unemployed, NAV … Continue reading
COVID in IT Sector in US – 8,500 new jobs in March, but 19,000 IT jobs lost in other industries
The US information technology sector added an estimated 8,500 new jobs in March, according to an analysis by technology industry trade association CompTIA. However, there was a loss of an estimated 19,000 IT positions in companies across all other industry sectors, according to CompTIA’s analysis of employment data released today by the US Bureau of … Continue reading
COVID in Spain – March worst month on record for the labour market
Jobless claims in Spain surged by 302,000 people in March, the highest monthly increase on record and far higher than the previous record from January 2009 when unemployment claims rose by 200,000 as Spain went into an economic crisis. Spain’s Minister of Labour and Social Economy, Yolanda Diaz, said that nearly 834,000 jobs had been … Continue reading
COVID and Jobs in Europe vs US – The Partial Unemployment (wage subsidy)
The coronavirus pandemic has dramatically changed economic life across Europe and the United States. By confining people to their homes, leading them to spend far less money than they otherwise would, the West has seen a collapse in consumption, threatening the survival of a sweeping number and range of firms, from restaurants to airlines to … Continue reading
COVID and New Job Postings in US – Dropped 29% between the week of March 2 and the week of March 23
The greatest jobs impact from the coronavirus pandemic isn’t necessarily in states with the highest number of reported cases but in states most dependent on industries like manufacturing and tourism. Nationwide, new job postings dropped 29% between the week of March 2 and the week of March 23, according to a newly released Burning Glass Technologies research. … Continue reading
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