Workforce Development News – October 12, 2020

By on October 12, 2020
Expectation of Slow Recovery

A weekly collection of articles on workforce development, employment and training, business performance improvement, leadership, higher education, and the economy.

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The Workforce Solutions Group of St. Louis Community College leverages education for growth in the knowledge economy by offering programs and services designed to advance people, businesses and communities. We are located at the Corporate College, a state of the art facility solely dedicated to corporate education and professional development.
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The CFO Survey Shows Expectation of Slow Recovery

“Corporate financial decision-makers generally expect employment and revenues to remain below pre-COVID levels until at least 2021.”

Post-COVID Recovery? Not So Fast, My Friend

“The road forward is going to be a tough slog. Expectations are so tepid that, based on the latest average projection, it will take firms more than four-and-a-half years to recover their pre-COVID employment levels and about three-and-a-half years to recover their lost sales revenue.”

America’s Newest Wave of Covid-19 Cases, Explained

“Covid-19 cases and hospitalizations are up across the country. It will continue to be difficult for the U.S. to contain the coronavirus before a vaccine becomes available.”

Last Hired, First Fired? Employment Losses Across Age Groups

“The youngest workers were by far the worst hit.”

A More Accurate Reading of Labor Market Conditions

“The Hornstein-Kudlyak-Lange Non-Employment Index is an alternative to the standard unemployment rate that includes all non-employed individuals and accounts for persistent differences in their labor market attachment. It counts not only the unemployed, but also those out of the labor force. And it weights the different groups of non-employed.”

Two Quite Different Paths for U.S. Unemployment

“A near-term return to prepandemic labor market conditions is unlikely. The temporary unemployment rate has improved markedly. But an increasing number of unemployed workers are reporting being laid off permanently.”

Most Unemployment Measures Are Declining – While Long-Term Unemployment Is Still Rising

“It wasn’t one particular type of unemployment that was responsible for the overall surge.”

The Decline in Access to Jobs and the Location of Employment Growth in U.S. Metro Areas

“Understanding Job Access—the number of jobs in a fixed distance or travel time from a worker’s home—can help us learn more about
Economic Mobility and opportunity. The typical commute distance in St. Louis is 11.1 miles.”

Give Job Applicants with Criminal Records a Fair Chance

“It won’t erase the injustices of the U.S. criminal justice system, but it can help stop its reverberations.”

Major Decisions: What Graduates Earn Over Their Lifetimes

“A college degree – in any major – is important for advancing one’s earnings potential. The median earnings for associate degree graduates is uniformly above that of high school graduates.”

The most basic of all human needs is to understand and be understood. The best way to understand people is to listen to them.” – Ralph Nichols

About Richard Schumacher

Richard Schumacher is the technology manager for the Workforce Solutions Group of St. Louis Community College. He connects, designs, and applies technology to meet business user needs with eLearning, training, web content, instructional design, IT system, and performance improvement solutions. Richard has held various Microsoft Certifications since 1993. Learn more about Richard by following him: LinkedIn - Twitter - Articles - Email

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