Job Market Monitor
US
COVID and Labor Market in US – Vacancy postings collapsed by 30% at the same time as initial claims spiked
In this report, we analyse both UI claims data and vacancy data from Burning Glass Technologies to provide a more detailed account of how the labor market evolved over the last weeks. In particular, we ask how broad-based the deterioration in market conditions over the second half of March and the first half of April … Continue reading
COVID and Labor Force Indicators in US – Job loss has been significantly large, those losing jobs are not actively looking to find new ones and participation in the labor force has declined by 7 pp
The arrival of the covid-19 virus and the policy responses have led to unprecedented numbers of initial claims for unemployment since early 2020: over 16.5 million by April 4 th, 2020, with new claims arriving at a rate of 6-7 million per week. But concerns about state governments’ inability to process so many claims in such … Continue reading
COVID and Economic Data in US – The worse than any we have seen for the economy, FED’s Powell said
How bad is the coronavirus economy? The worst ever, says Fed Chairman Jerome Powell. “We are going to see economic data for the second quarter that is worse than any data we have seen for the economy,” Powell said. “There are direct consequences of the disease and measures we are taking to protect ourselves from it. … Continue reading
COVID and Higher Education in US – Students are 25% more likely to go to a school that has a strong online program
Students are 25% more likely to go to a school that has a strong online program nowthan they were just 90 days ago, but colleges aren’t prepared. [L]ike every other institution, the college system is organized to protect the institution and not serve its primary constituents. Education was never designed for the student: It was … Continue reading
COVID and the Paycheck Protection Program (PPP) in US – Is it working ?
This week Congress approved $310 billion above the initial $349 billion Paycheck Protection Program (PPP), but it is not achieving its objective of stopping job losses. Paycheck guarantees would ensure American employer-employee links are preserved and employees can seamlessly return to their productive tasks as the economy recovers and demand picks up. Unless the Congress … Continue reading
COVID and Labor Market in US – CBO’s Projections : a loss of nearly 27 million jobs and 8 million exits from the labor force
CBO has developed preliminary projections of key economic variables through the end of calendar year 2021, based on information about the economy that was available through yesterday and including the effects of an economic boost from legislation recently enacted in response to the pandemic. In addition, CBO has developed a preliminary assessment of federal budget … Continue reading
COVID and Unemployment in US – A chart
Related Post COVID and UI Claims in US – More than 26 M claims since the beginning of lockdowns with 20% of jobless POSTED BY MICHEL COURNOYER ⋅ APRIL 23, 2020 ⋅ LEAVE A COMMENT In the week ending April 18, the advance figure for seasonally adjusted initial claims was 4,427,000, a decrease of 810,000 from … Continue reading
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 and Universities in US – It poses serious financial risks
Universities around the country are dealing with health concerns as their first priority, and keeping instruction going—even if imperfectly—as the second priority. After dealing with these immediate issues, the next concern is fear of collapsing revenue. Health and instruction deserve every bit of effort going into them. The extent of worry about collapsing revenue isn’t … Continue reading
COVID and UI in US – Changes in state Unemployment Insurance rules
The COVID-19 pandemic led to an unprecedented expansion in unemployment insurance (UI) eligibility across states. While more than forty states had modified UI rules by the end of March, not all states responded in the same way. In this article, I summarize the changes to state UI rules in response to the crisis and explore … Continue reading
COVID and Health Insurance in US – 9.2 million workers likely lost their employer-provided health insurance in the past four weeks
We estimate that 9.2 million workers were at high risk of losing their employer-provided health insurance in the past four weeks. To avoid prohibitively costly insurance options, the federal government should fund an expansion of Medicare and Medicaid to all those suffering job losses during the pandemic period.Two weeks ago, when the two-week total of … 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
COVID and Schools in US – 31 states and Washington, DC have ordered or recommended that they remain closed
The majority of governors in the United States have ordered or recommended that statewide school closures continue for the rest of the academic year to help reduce the spread of the novel coronavirus.This is where all 50 states stand on reopeningSeveral states have announced their plans to begin lifting social distancing measures and the federal … Continue reading
COVID in America – Pictures from the Great Depression and from last week
Straggling in a Good Economy, and Now Struggling in a Crisis The coronavirus pandemic has shown how close to the edge many Americans were living, with pay and benefits eroding even as corporate profits surged. Chosen excerpts by Job Market Monitor. Read the whole story @ Coronavirus Crisis Underlines Weak Spots in U.S. Economic System – The … Continue reading
CARES Act and UI in US – The three new programs
Pandemic Unemployment Compensation (PUC) From the date the bill is signed through July 31, 2020, all regular UI and Pandemic Unemployment Assistance claimants will receive their usual calculated benefit plus an additional $600 per week in compensation. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. A … Continue reading
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