Job Market Monitor
US
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
Job report in US (March 2021) – Employment rises by 916,000 and unemployment edges down to 6.0%
Total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in … Continue reading
NABE’s US Outlook Survey (March 2021) – 59 percent employment will return to pre-COVID-19 levels in 2023 or later
The March 2021 NABE Outlook presents the consensus macroeconomic forecast of a panel of 53 professional forecasters (see last page for listing). The survey, covering the outlook for 2021 and 2022, was conducted February 8-February 16, 2021. Highlights: • NABE panelists have grown more optimistic about the prospects for economic growth in 2021. The median … Continue reading
Working After Retirement in US – Rules, Benefits and Social Security
Thinking about returning to work after retirement? You’re not alone. But before you launch your new side project or pick up a part-time job, it’s important to understand how rejoining the workforce impacts your financial goals and government benefits. Chosen excerpts by Job Market Monitor. Read the whole story @ Working After Retirement | Rules, Benefits and … Continue reading
Covid and Long-Term Unemployment in US – About four-in-ten unemployed workers had been out of work for more than six months
About four-in-ten unemployed workers had been out of work for more than six months in February 2021, about double the share in February 2020. Chosen excerpts by Job Market Monitor. Read the whole story @ Long-term U.S. unemployment rose sharply under COVID-19; Asian Americans hit hardest | Pew Research Center
Skills and Credentials in US – IBM’s letter to US Secretary of Education nominee Miguel Cardona and Secretary of Labor nominee Marty Walsh
IBM today sent the following letter to US Secretary of Education nominee Miguel Cardona and Secretary of Labor nominee Marty Walsh: To incoming Secretaries Cardona and Walsh, As you take office amid a global pandemic, I know you must be all too aware of the 11 million unemployed Americans and the 77 million students in … Continue reading
Job Report in US (February 2021) – Employment rose by 379,000 and and unemployment little changed at 6.2 percent
Total nonfarm payroll employment rose by 379,000 in February, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic. In February, most of the job gains occurred in leisure and hospitality, with smaller gains in temporary help services, … Continue reading
Older Workers in US – Working longer cannot solve the retirement crisis
Working longer is often proposed as the solution to the retirement crisis caused by older workers’ lack of retirement assets, but new research from SCEPA’s ReLab shows this assumption doesn’t match older workers’ real experiences in the labor market. Spreadsheet models used by advocates of delaying retirement assume older workers delay claiming Social Security to … Continue reading
Jobs Recovery and Older Workers in US – 1.1 Million of them out of the labor force
In the final months of 2020, as the pandemic surged again and businesses were forced to scale back or close, the initial labor market recovery stagnated. For older workers, however, the recovery didn’t just pause—it took several steps back. Older workers (ages 55 and older) gained an insignificant number of jobs between August 2020 and … Continue reading
Racial Equity in US – Advancing it in the workplace is a system-level challenge
Advancing racial equity in the workplace is a system-level challenge-ranging from the structural inequities of geography to underrepresentation in industries and jobs that could create additional opportunity to the behaviors of the workplace itself. In the United States, Black workers account for 15 million, or 12 percent, of the 125 million US private-sector workers. The … 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
Apprenticeship in US – How to build and sustain a high-quality system
The 2016 election heightened an ongoing debate in the United States about how best to respond to two of the foremost economic challenges of the current era: stagnant wages and a dearth of promising career prospects for American workers without a bachelor’s degree. These challenges persist despite a dramatic increase in recent decades in years … Continue reading
UI Claims in US (as of January 23, 2021) – 18 million above where they were a year ago
Figure A shows continuing claims in all programs over time (the latest data are for January 23rd). Continuing claims are currently more than 18 million above where they were a year ago. The large increase in continuing claims in the most recent data was due to increases in PUA and PEUC. This is likely workers … Continue reading
UI Weekly Claims in US (Week ending February 6) – 793,000, a decrease of 19,000 from the previous week
In the week ending February 6, the advance figure for seasonally adjusted initial claims was 793,000, a decrease of 19,000 from the previous week’s revised level. The previous week’s level was revised up by 33,000 from 779,000 to 812,000. The 4-week moving average was 823,000, a decrease of 33,500 from the previous week’s revised average. … Continue reading
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