This tag is associated with 1999 posts

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 Jobs around the World – Expected to wipe out 6.7 per cent of working hours equivalent to 195 million full-time workers in Q2 2020 ILO says

The COVID-19 crisis is expected to wipe out 6.7 per cent of working hours globally in the second quarter of 2020 – equivalent to 195 million full-time workers. Large reductions are foreseen in the Arab States (8.1 per cent, equivalent to 5 million full-time workers), Europe (7.8 per cent, or 12 million full-time workers) and Asia … Continue reading

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 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 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

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

Job Report in Canada, March 2020 – With only partial impact of COVID, employment fell by more than one million

Employment fell by more than one million in March (-1,011,000 or -5.3%). The employment rate—or the proportion of people aged 15 and older who were employed—fell 3.3 percentage points to 58.5%, the lowest rate since April 1997. Of those who were employed in March, the number who did not work any hours during the reference week (March 15 to 21) increased by 1.3 million, while the number … Continue reading

COVID in – More jobs lost than US did during the Depression

While we wait to get a clearer picture of the health coronavirus curve in India, we already have the first estimate of the job-destruction caused by the nation-wide lockdown. The numbers are staggering, worse than anything the world has ever known. More jobs were lost in India in the last two weeks than anything ever … Continue reading

COVID in China – The worst job market in 20 years

China faces its worst job market in more than two decades, with tens of millions of people temporarily without work or unemployed in the first three months of 2020 and the number of jobs set to shrink by more than 10 million this year, according to UBS Group AG economists. About 70-80 million people in … Continue reading

COVID Global Impact on Jobs – Equivalent to 195 million full-time workers estimates ILO

X Since the first ILO Monitor, the COVID-19 pandemic has further accelerated in terms of intensity and expanded its global reach. Full or partial lockdown measures are now affecting almost 2.7 billion workers, representing around 81 per cent of the world’s workforce. X In the current situation, businesses across a range of economic sectors are … 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

Jobs after COVID in US – Retooled for the Twenty-First Century?

In my 2016 book, Failure to Adjust: How Americans Got Left Behind in the Global Economy, I told the story of how economic globalization caught the United States off-guard. For most of our history, we were a reasonably self-sufficient economy, with an expanding domestic market that was more than large enough to exploit economies of … 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

Job Report in US, March 2020 – Employment fell by 701,000 even if the reference periods predated many COVID impacts

Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the coronavirus (COVID-19) and efforts to contain it. Employment in leisure and hospitality fell by 459,000, mainly in food services and drinking … Continue reading

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