While The Shock may have ended, labor market indicators suggest that we still need to respond appropriately to The Slog if we are to avoid a repeat of the lackluster “jobless recovery” following the 2008 crisis.
Labor Markets9 posts
Between mid-February and mid-March, the number of Americans unemployed grew by 1.4 million. But the rise in Americans reporting any type of labor market disruption — absence, wanting more hours, or not having a job at all — was almost four times that number: 5.6 million.
The coronavirus shock will lead to a dramatic spike in the unemployment rate. But even this surge could understate the true labor market damage from the virus.
Sharp changes to unemployment insurance systems are needed to stabilize the American economy, incentivize compliance with public health guidance, and keep American families financially secure.
Demand for workers with criminal justice involvement and a history of incarceration appears to be rising in several regions across the country over the past few years, according to interviews with eight job placement professionals in cities spanning the nation.