COVID-19, labor demand, and government responses: evidence from job posting data

Using high-frequency job advertisement data, this paper evaluates dynamics among COVID-19, labor market, and government policies. We find that COVID-19 has caused a significant decline in labor demand, by as much as 30%, measured by the number of job advertisements. But the pandemic did not result i...

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Detalles Bibliográficos
Autores principales: Shuai, Xiaobing, Chmura, Christine, Stinchcomb, James
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Palgrave Macmillan UK 2020
Materias:
Original Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7719850/
https://www.ncbi.nlm.nih.gov/pubmed/33311717
http://dx.doi.org/10.1057/s11369-020-00192-2
Descripción
Sumario:Using high-frequency job advertisement data, this paper evaluates dynamics among COVID-19, labor market, and government policies. We find that COVID-19 has caused a significant decline in labor demand, by as much as 30%, measured by the number of job advertisements. But the pandemic did not result in noticeable changes in advertised wages. Regarding the roles of government policies, the study finds that the “stay-at-home” measures implemented by states appeared to suppress labor demand. The Paycheck Protection Program (PPP) program helps to stabilize the advertised wages, but also suppresses labor demand. Finally, the pandemic may increase labor demand for certain healthcare-related occupations.

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