Job Market Monitor
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Who Can Help For Overloaded UI in US – Google Creates Unemployment Application Portal for New York State Labor Department
Google said it has created an application portal to help New York State respond to an unprecedented surge in unemployment filings after the economy was shut down by the coronavirus outbreak. The effort, called “Tech Surge”, is a partnership with Google Cloud, Deloitte, and Verizon to improve the reliability of the state’s online and telephone-based … Continue reading
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
Unemployment Insurance Weekly Claims in US (week ending April 4) – 6,606,000, a decrease of 261,000 from the previous week
Record 16.6 million have sought US jobless aid since coronavirus In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, … Continue reading
COVID and Labor Shortages in US – Wanted: People who know COBOL for UI program coding
On top of ventilators, face masks and health care workers, you can now add COBOL programmers to the list of what several states urgently need as they battle the coronavirus pandemic. In New Jersey, Gov. Phil Murphy has put out a call for volunteers who know how to code the decades-old computer programming language called … Continue reading
COVID and Unemployment Insurance in US – what has congress already done to address the current crisis?
WHAT HAS CONGRESS ALREADY DONE TO ADDRESS THE CURRENT CRISIS? The CARES Act—a $2 trillion relief package aimed at alleviating the economic fallout from the COVID-19 pandemic—extends the duration of UI benefits by 13 weeks and increases payments by $600 per week through July 31st. This implies that maximum UI benefits will exceed 90 percent … Continue reading
COVID in US – Putting the 240,000 projections in perspective
In 2017, a total of about 2.8 million people died in the United States, according to the Centers for Disease Control and Prevention. The leading cause, as usual, was heart disease, which killed 647,457 people. At a high of 240,000 fatalities (assuming we continue to social distance, and assuming for the moment that the White … Continue reading
COVID in US – What top CEOs fear
Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn’t begin planning for a phased return to work as soon as May, corporate leaders tell Axios. Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don’t … 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
US – People working in legal occupations in downturns
People working in legal occupations in the United States experience economic downturns differently than the labor market as a whole. With increased volatility in unemployment rates and significant gender gaps, the comparatively low unemployment in legal occupations may offer little comfort to those trying to maneuver the Covid-19 downturn. According to the Bureau of Labor … 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 New Job Postings in US – Dropped 29% between the week of March 2 and the week of March 23
The greatest jobs impact from the coronavirus pandemic isn’t necessarily in states with the highest number of reported cases but in states most dependent on industries like manufacturing and tourism. Nationwide, new job postings dropped 29% between the week of March 2 and the week of March 23, according to a newly released Burning Glass Technologies research. … Continue reading
Unemployment Benefits in US – The Efficacy of Enhanced UI by St. Louis Fed
KEY TAKEAWAYS Social-distancing policies to slow the transmission of coronavirus have disrupted economic activity, shuttering firms and throwing many Americans out of work. Providing more generous unemployment insurance benefits to laid-off and furloughed workers can be an efficient, targeted means to help offset their loss of income. Small business loans aimed at keeping workers on … 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 in US – Only 34 percent of jobs can plausibly be performed at home
Evaluating the economic impact of “social distancing” measures taken to arrest the spread of COVID-19 raises a number of fundamental questions about the modern economy: How many jobs can be performed at home? What share of total wages are paid to such jobs? How does the scope for working from home vary across cities or … Continue reading
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