Job Market Monitor
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Covid and Change in Payroll Employment by Sector in US – A chart
Chosen excerpts by Job Market Monitor. Read the whole story @ Hutchins Roundup: Student debt, consumer spending, and more
Job Report in US (July 2020) – Employment rose by 1.8 million and the unemployment rate fell to 10.2 percent, up by 6.7 percentage points since February
Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In … Continue reading
UI Weekly Claims in US (JULY 30, 2020) – 1,434,000, an increase of 12,000 from the previous week’s revised level
SEASONALLY ADJUSTED DATA In the week ending July 25, the advance figure for seasonally adjusted initial claims was 1,434,000, an increase of 12,000 from the previous week’s revised level. The previous week’s level was revised up by 6,000 from 1,416,000 to 1,422,000. The 4-week moving average was 1,368,500, an increase of 6,500 from the previous … Continue reading
Social Safety Net in US – It has not led disrupted local economies to recover
Our research indicates that recessions produce enduring economic disruptions to local economies, and this pattern has existed for at least the past five decades. Consequently, recessions likely play a role in the shift of economic activity across places over time; this, in turn, has implications for economic opportunity for people who grow up in areas … Continue reading
Time Limits to Social Assistance in US – Decreased welfare participation by 22 percent and transfer income by 6 percent
BRIEF HIGHLIGHTS Several states imposed time limits for welfare receipt in the wake of the Great Recession. Stricter time limits decreased welfare participation by 22 percent and transfer income by 6 percent. The time limits tend to decrease earnings in states without generous benefits at baseline. Separation from work and welfare diminishes families’ access to … Continue reading
Pandemic Unemployment Assistance in US ($600 weekly by UI) – Extension would support millions of workers: See updated state unemployment data | Economic Policy Institute
As of last week, DOL reported that over 15 million workers across 48 states and the District of Columbia are receiving or waiting on a decision for Pandemic Unemployment Assistance (PUA) benefits, which underscores the importance of extending benefits to those who would otherwise not have been eligible. Five states have at least a million … Continue reading
UI Claims in US (week ending June 27) – 1,427,000, a decrease of 55,000 from the previous week’s revised level
In the week ending June 27, the advance figure for seasonally adjusted initial claims was 1,427,000, a decrease of 55,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 1,480,000 to 1,482,000. The 4-week moving average was 1,503,750, a decrease of 117,500 from the previous week’s revised average. … Continue reading
Job Report in US (June 2020) – Employment rose by 4.8 million, still down nearly 14.7 million jobs since February, and unemployment rate declined to 11.1 percent
Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate declined to 11.1 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts … Continue reading
COVID and Unemployment in US – Those without a college degree have experienced the most severe impact
Since COVID-19 hit the United States, more than 20 million American workers have become unemployed and countless others have left the labor force altogether. While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact. Addressing gaps in educational … Continue reading
May Job Report in US – 32.5 million workers who are either officially unemployed or otherwise out of work as a result of the virus
Key takeaways: In May, the official unemployment rate was 13.3%. However, the unemployment rate that takes into account all those who are out of work as a result of the virus was 19.7%, and the unemployment rate that includes only those who are out of work and don’t have a reasonable chance of being called … Continue reading
UI Weekly Claims in US (week ending June 13) – 1,508,000, a decrease of 58,000 from the previous week’s revised level, 29.1 million receiving benefits was as of May 30
Unemployment Insurance Weekly Claims ReportIn the week ending June 13, the advance figure for seasonally adjusted initial claims was 1,508,000, a decrease of 58,000 from the previous week’s revised level. The previous week’s level was revised up by 24,000 from 1,542,000 to 1,566,000. The 4-week moving average was 1,773,500, a decrease of 234,500 from the … Continue reading
UI Weekly Claims in US (week ending June 6) – 1,542,000, a decrease of 355,000 from the previous week’s revised level with a total of 44,2M for the lockdown
Unemployment Insurance Weekly Claims Report In the week ending June 6, the advance figure for seasonally adjusted initial claims was 1,542,000, a decrease of 355,000 from the previous week’s revised level. The previous week’s level was revised up by 20,000 from 1,877,000 to 1,897,000. The 4-week moving average was 2,002,000, a decrease of 286,250 from … Continue reading
Job Report in US (May 2020) – Employment rose by 2.5 million and unemployment declined to 13.3%
Total nonfarm payroll employment rose by 2.5 million in May, and the unemployment rate declined to 13.3 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it. In … Continue reading
UI Weekly Claims in US (week ending May 30) – 1,877,000, a decrease of 249,000 from the previous week’s revised level
In the week ending May 30, the advance figure for seasonally adjusted initial claims was 1,877,000, a decrease of 249,000 from the previous week’s revised level. The previous week’s level was revised up by 3,000 from 2,123,000 to 2,126,000. The 4-week moving average was 2,284,000, a decrease of 324,750 from the previous week’s revised average. … Continue reading
Labor Market Impacts of the Covid in US – Reductions in employment, and the associated increases in employment exit rates and decreases in hiring rates, were disproportionately concentrated in low-wage jobs
We study the distributional consequences of the Covid-19 pandemic’s impacts on employment. Using data through April 2020 from the Current Population Survey (CPS) — the primary source of labor force statistics for the United States — we document three key facts. First, we show that the pandemic-induced reductions in employment, and the associated increases in … Continue reading
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