Job Market Monitor
Employment
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
Job Report in US (ADP), March – Lost of 27,000 up to March 12, without full impact of COVID-19
ADP National Employment Report: Private Sector Employment Decreased by 27,000 Jobs in March; the March NER Utilizes Data Through March 12 and Does Not Reflect the Full Impact of COVID-19 on the Overall Employment Situation ROSELAND, N.J. – April 1, 2020 – Private sector employment decreased by 27,000 jobs from February to March according to … Continue reading
COVID-19 in Canada – The impact on the labour market
The Bottom Line… • Global economy will feel the effects of COVID-19—a recession is likely in many countries • Canada and the United States went into February 2020 on a solid footing but things have deteriorated precipitously • Economic impact will depend entirely on our success (in Canada and the United States) at containing the … Continue reading
COVID-19 in US – Over 37 million U.S. jobs may be vulnerable to potential layoffs in the short term
Almost 56% of US production and non-supervisory jobs (about 59.5 million jobs) offer weekly incomes below the $802 weighted average weekly income for all such jobs. Together, those low-quality jobs offer a weighted average of $539 in weekly income, or just over $28,000 per year. There is a subset of these workers, in jobs often … Continue reading
COVID-19 in Canada – Programs for those who lose their jobs are insufficient
Editorial – In Canada and Québec, governments have announced a series of insufficient programs geared toward employment insurance and its meagre 55% of insurable salary. Here’s what’s happening elsewhere, such as in the United Kingdom where the government will pay up to 80% of the salary of those who lose their jobs. @ https://jobmarketmonitor.com/2020/03/22/covid-19-and-jobs-in-uk-government-to-pay-80-of-wages-for-those-not-working/ The House … Continue reading
Job Report in US, February 2020 – Total nonfarm payroll employment rose by a 273,000, well above consensus expectations
Total nonfarm payroll employment rose by 273,000 in February, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities. Household Survey Data Both … Continue reading
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