Giuseppe Sandro Mela.
Lo US Department of Labor ha rilasciato il Report July 15, 2021, Unemployment Insurance Weekly Claims Report.
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Weekly jobless claims totaled 360,000 last week
The total receiving benefits fell to just to 13,836,598
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Inizia a profilarsi un problema di non facile soluzione.
«Millions lost jobs during the pandemic and are still unemployed or left the workforce»
«What should be done?»
«non-farm payroll employment is down a net of about 7 million jobs»
«The U.S. economy won’t fully recover from the pandemic until more Americans get back to work»
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A quanto sembrerebbe emergere dai dati a momento disponibili, si starebbero evidenziando due diversi mercati del lavoro.
Uno per le fasce di alta istruzione, che parrebbe essere tornato quasi alla norma.
Uno invece per le fasce non specializzate e qualificate, che non riescono a trovare occupazione.
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– Weekly jobless claims totaled 360,000 last week, matching Wall Street estimates.
– The total receiving benefits fell to just over 14 million, less than half where it was a year ago.
– New York manufacturing activity set a record in July amid strong hiring and new orders.
Initial claims for unemployment insurance fell to a new pandemic-era low last week, the Labor Department reported Thursday.
First-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020.
The total represented a substantial decrease from the previous week’s upwardly revised 386,000.
Continuing claims, which run a week behind the headline number, also fell sharply, declining by 126,000 to 3.24 million. That also established a new low for a jobs market that still has some distance to go before getting back to its pre-Covid 19 self but has made significant strides.
Markets reacted little to the claims news, with stock market futures pointing lower and government bond yields edging down following the release.
Those collecting benefits under all government programs also fell sharply, dropping by 449,642 to 14.2 million through June 19. That is well above anything seen before the pandemic, but is far below the 33.2 million on the rolls a year ago.
As the labor market recovers, multiple states have ended the enhanced benefits provided since early in the crisis. Federal benefits expire in September, with economists expecting a surge of new workers back into a record level of job openings. Labor force participation is down 2.7% since February 2020, and the total of workers counted as unemployed is more than 3.7 million higher.
New York manufacturing rises at record pace
A separate economic report Thursday showed that manufacturing and hiring are booming in the pivotal New York region.
The Empire State Manufacturing Survey, conducted by the New York Federal Reserve, rose to a record 43 for July, representing the percentage difference between firms seeing expansion against those contracting.
New orders and shipments surged, while the employment index increased 8.3 points to 20.6 as 29.5% of companies indicated they would be adding workers. A forward-looking index on conditions over the next six months also showed a hiring increase, with a reading of 43.9, up 2.2 points from June.
The news comes a day after the Fed’s “Beige Book” release on economic conditions across the country. That report showed “moderate to robust growth” nationally, while the New York region reported an economy growing “at a strong pace” as business contacts were “increasingly optimistic about the near-term outlook.”
While New York reported a burst in growth, the Philadelphia region said Thursday that progress was slowing.
That area’s manufacturing reading slipped to 21.9 in July from 30.7 the previous month, though the headline number still indicated expansion.
Both reports also indicated some deceleration in the rate of price increases amid otherwise high inflation readings.
Millions lost jobs during the pandemic and are still unemployed or left the workforce. What should be done?
Fifteen months after Covid-19 shuttered offices and workplaces, millions of unemployed Americans are still out of work. Many won’t be able to return to the jobs they left; in fact, the entire job market has changed in massive ways.
Some jobs are never coming back. Even with an uptick in employment numbers in recent months, non-farm payroll employment is down a net of about 7 million jobs, and that doesn’t even account for the jobs that would have been created in the absence of the pandemic.
A job that may have been a fit for a worker pre-pandemic, might no longer be a fit post-pandemic. Workers may have moved and their family needs may have shifted in dramatic ways. What’s more, the pandemic forced a complete reset in the relationship between bosses and workers — what employees need and want, versus what employers need and want, may no longer match up.
A lot depends on fixing this problem: The U.S. economy won’t fully recover from the pandemic until more Americans get back to work.
That’s why POLITICO convened a virtual “policy hackathon” with 10 top labor and workforce leaders from government, nonprofits and academia. During an hour-long Zoom conversation moderated by chief economics correspondent Ben White and New Jersey bureau chief Katherine Landergan, we asked them to compare notes, identify emerging challenges and share the best ideas for creating new jobs and getting more workers back to earning a paycheck.
Our policy hackers, from regions and states as diverse as Tennessee, Indiana, Arizona and New Jersey, discussed the pandemic-triggered shocks to the labor market and proposed eight potential policy solutions.
Here are key takeaways from that conversation.
Part One: Why so many Americans are still out of work
In many ways, life in America seems to be returning to something close to normal. Many stores and restaurants have reopened to customers. Offices are making plans for bringing back employees who have been working remotely. Schools and universities are revamping classrooms in anticipation of going back fully to in-person learning in the fall.
But this is still a nation, and an economy, in recovery. Many businesses — particularly in the retail and hospitality sectors — didn’t survive the pandemic’s economic shock and have shut for good. Other businesses survived by using technology to replace some staff, and those systems are likely to stay in place going forward. And many workers’ lives have been disrupted in ways that may make it hard to return to work, either because they still lack childcare, they’ve relocated to a new area or they are struggling with illness and loss.
Here are some of the challenges that our policy hackers identified.
Job losses were uneven and concentrated in lower-wage sectors.
The pandemic took the hardest toll on service jobs, particularly in the leisure and hospitality sectors. According to data from payroll processing firm ADP, those sectors employed 11 percent of American workers before the pandemic, and experienced more than 40 percent of the job losses.
Nela Richardson, chief economist at ADP, said that by comparison, white-collar sectors or financial services “hardly even felt a speed bump.” This has led to an uneven recovery, where Americans with low-income are still looking for work while wealthier Americans have been able to work from home and keep their jobs.
“You really have not only a lopsided, uneven recovery, but really two different job markets — one for low-paid workers who are still seeing barriers and ongoing health concerns, and another one where the competition and salary increases are probably going to accelerate,” Richardson said.