Job Market Monitor
COVID
Covid and Business Cycle Dating in US – A trough in monthly economic activity occurred in the US economy in April 2020 says NBER’s Committee
The Business Cycle Dating Committee of the National Bureau of Economic Research maintains a chronology of the peaks and troughs of US business cycles. The committee has determined that a trough in monthly economic activity occurred in the US economy in April 2020. The previous peak in economic activity occurred in February 2020. The recession … Continue reading
Beveridge Curve and Covid in US – It has shifted substantially outward since the start of the pandemic
The ratio of job vacancies to hiring is at an all-time high, and in line with the hiring difficulties highlighted by many employers. The Beveridge Curve, which captures the negative relationship between the job opening rate and the unemployment rate, has shifted substantially outward since the start of the pandemic. As a result, a given … Continue reading
Low-Paid Workers and Covid in UK – One-third of workers in the lowest-paid group have been furloughed, or lost jobs or hours
This briefing note summarises Resolution Foundation research on low-paid workers and their experiences of work and the labour market. These are the workers that we are trying to reach with Resolution Ventures and the Workertech Partnership. It highlights that some groups of workers are more likely to be low paid, including the young, those working … Continue reading
Covid in Western Europe and US – Government-sponsored job and skills training for workers garners the highest shares of support
The coronavirus outbreak has caused, among other things, a debate around how to best rebuild national economies ravaged by the pandemic. Across the United States, France, Germany and the United Kingdom, significant shares believe their economic system needs either major changes or a complete overhaul, according to a Pew Research Center survey conducted in the … Continue reading
Covid in Europe – It challenges skills intelligence
Pandemic-induced social distancing measures and large-scale lockdowns have caused an econom- ic downturn that is more severe than the recession following the 2008 global financial crisis. In a little more than a year, the ubiquitous health threat has unsettled almost all areas of society and economy, learning and working being no exception. In the previous … Continue reading
Covid and the Youth Labour Market in UK – The large falls in employment have been largely offset by rising participation in education
This report sets out analysis of trends in youth participation in education and employment during the Covid-19 pandemic. It is the first report in a wider project funded by the Blagrave Trust and Youth Futures Foundation, working with the Institute for Public Policy Research to exploring the impacts of the pandemic on the youth labour market … Continue reading
Work after Covid in US – Listening to Americans
In addition to the devastation the coronavirus pandemic has wrought in terms of lives lost, it has been one of the most economically disruptive crises in U.S. history. Among the most urgent concerns is the rising number of the long-term unemployed. In January 2021, four million Americans had been unemployed for six months or more, … Continue reading
COVID in US – Six facts about how the COVID-19 recession is affecting labor force participation and unemployment
Here are six facts about how the COVID-19 recession is affecting labor force participation and unemployment among American workers a year after its onset. Chosen excerpts by Job Market Monitor. Read the whole story @ A year into COVID-19, U.S. labor market recovery is far from complete | Pew Research Center
Covid, Immigration and Labour Markets in Europe – Policymakers should take steps to clearly communicate the rationale behind labour migration policies
The response to the COVID-19 pandemic has brought about a historic economic recession with significant consequences for employment and, in turn, immigration and skills policy. While it remains to be seen how lasting the pandemic’s effects will be on the worst-hit sectors, such as hospitality, leisure, and tourism, the crisis appears to be entrenching existing … Continue reading
Recovery from Covid and Jobs in US – More jobs and more skills needed
Permanently displaced workers now total nearly 4 million and rising, with the heaviest concentration among fairly low-wage workers. Their skill sets and work experience will not immediately lead them to new jobs, and they face the prospect of long periods without work or lower wages than before, even if the overall labor market tightens. For … Continue reading
After Covid – Sweeping societal change will make life worse for most people experts say
A plurality of experts think sweeping societal change will make life worse for most people. Still, a portion believe things will be better in a ‘tele-everything’ world. Asked to consider what life will be like in 2025 in the wake of the outbreak of the global pandemic and other crises in 2020, some 915 innovators, … Continue reading
Recovery After Covid in Canada – New spending should target the problems that are holding Canada’s productive capacity back
Any further debt-financed stimulus should be temporary, essential, and targeted to improving the economy’s productive capacity, says a new report from the C.D. Howe Institute. At their most recent meeting, the Fiscal and Tax Working Group discussed what form new fiscal stimulus should take, but remained unconvinced that a large stimulus package is appropriate at … Continue reading
COVID and US Labor Markets in 2020 – Blacks and Hispanics have had slower employment recoveries than whites, even accounting for differences in education and occupation
It is no secret that in the spring of 2020 the COVID-19 pandemic disrupted U.S. labor markets more severely and more quickly than at any point in living memory. A blizzard of research papers, newspaper stories, and calls for economic relief have documented the severe crash in employment in the spring of 2020, and the disproportionate … Continue reading
Covid Jobs Recovery – Can EMs Create Enough Jobs?
The COVID-19 pandemic derailed global growth and EMs suffered an unprecedented activity collapse. Recovery from the crisis continues to be bumpy, but we think that the focus will soon shift back to the medium-term growth outlook in EM. Several pre-COVID-19 research notes documented a secular decline in EM growth, which can complicate job creation, possibly … Continue reading
COVID Impacts on Global Labour Income – estimated to have declined by 10.7 per cent, or US$ 3.5 trillion, in the first three quarters of 2020
The devastating losses in working hours caused by the COVID-19 pandemic have brought a “massive” drop in labour income for workers around the world, says the International Labour Organization (ILO) in its latest assessment of the effects of the pandemic on the world of work. Global labour income is estimated to have declined by 10.7 … Continue reading
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