Job Market Monitor
lockdown
COVID and UI Claims in US (Update) – More than 26 M claims since the beginning of lockdowns with 20% of jobless
In the week ending April 18, the advance figure for seasonally adjusted initial claims was 4,427,000, a decrease of 810,000 from the previous week’s revised level. The previous week’s level was revised down by 8,000 from 5,245,000 to 5,237,000. The 4-week moving average was 5,786,500, an increase of 280,000 from the previous week’s revised average. … Continue reading
COVID, Lockdown and Recession in US – “Automatic stabilizers” are workhorse antirecession programs
The Great Recession is remembered, and properly so, for its massive destruction of household wealth and job losses that reached over 800,000 in a single month. In just the fourth quarter of 2008, real GDP fell at an annual rate of 8.4 percent, while economies across the world were savaged by problems as bad as … Continue reading
COVID – Lifting lockdowns and the economic recovery
The pandemic could give rise to a new era of human development. Otherwise, economic and social development may falter for decades. Exhibit 1 shows how different levels of physical isolation affect economic conditions. A recession could occur if faltering demand, restricted supply, and lost income reach critical levels. The differences between scenarios could be tenfold: … Continue reading
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 Lockdown – The costs of constraining the virus and the benefits
Some economists and business leaders believe the costs of constraining the virus have exceeded the benefits. They point to unemployment totals not seen since the Depression and entire industries shut down, compared to virus death totals that may reach only the numbers from a bad flu season (55,000).As more data become available, the epidemiological trajectory … Continue reading
COVID and Lockdown Lifting in US – 66% say they are more concerned that these restrictions will be lifted too quickly
With substantial limits in place on public activity in most states to combat the coronavirus outbreak, 66% of Americans say they are more concerned that these restrictions will be lifted too quickly, while 32% say they are more concerned they won’t be lifted quickly enough.With substantial limits in place on public activity in most states … Continue reading
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