Job Market Monitor
COVID
COVID au Canada – Le problème avec le soutien du revenu
Les dés sont largement jetés. Les gouvernements du Canada et du Québec pourront compter, du moins transitoirement, sur quatre grandes mesures pour soutenir le revenu des personnes affectées par la crise du COVID soit : 1. La Subvention salariale de 75% du salaire jusqu’à concurrence de 3 388 $ par mois (847 $ X 4), offerte … Continue reading
COVID and Jobs in Europe – Getting back to work
In this article, we describe how European policy makers and business leaders can think about how to prioritize both protecting lives and restoring livelihoods. Even in countries where lockdowns are unlikely to be lifted for several weeks, governments and companies need to be planning and preparing to restart their economies. We start from three observations: … Continue reading
COVID Macroeconomic Implications – Can a supply shocks bring demand deficiency ?
Jean-Baptiste Say is famously misquoted for stating the Law “supply creates its own demand.” In this paper, we introduce a concept that might be accurately portrayed as “supply creates its own excess demand”. Namely, a negative supply shock can trigger a demand shortage that leads to a contraction in output and employment larger than the … 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 in US – A fiscal time bomb Nobel Prize-winning economist Paul Krugman says
The Nobel Prize-winning economist Paul Krugman says it is important to realize that legislation around the novel coronavirus so far is not a stimulus bill; it is mostly a disaster-relief bill. He says it is good for the most part but will probably need to be bigger, maybe as large as $4 trillion or $5 … 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
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