Workforce Development News – October 26, 2020

By on October 26, 2020
How Coronavirus is Reshaping America's Job Market

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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How America Gave Up on Fighting the Pandemic and Saving the Economy

“The foundation of a healthy economy is a healthy workforce, and right now, America doesn’t have either.”
https://www.vox.com/21523204/coronavirus-unemployment-stimulus-economy

How Coronavirus is Reshaping America’s Job Market

“About 1 in 3 people were either working in a different job in September than they were in February or were unemployed.”
https://www.politico.com/news/2020/10/23/coronavirus-reshaping-job-market-431383

An Uphill Battle: COVID-19’s Outsized Toll on Minority-Owned Firms

“Black-owned businesses closed at more than twice the rate of white-owned firms and experienced declines in cash balances nine times as steep as nonminority firms in some cases.”
https://www.clevelandfed.org/en/newsroom-and-events/publications/community-development-briefs/db-20201008-misera-report.aspx

Eighth District Beige Book

“Labor market conditions in the Eighth District have improved slightly since the previous report, though the pace of job growth has slowed.”
https://research.stlouisfed.org/publications/regional/beige-book/2020/10/21/eighth-district-beige-book/
Full Beige Book: https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20201021.pdf

Getting Serious About Diversity: Enough Already with the Business Case

“To fully benefit from increased racial and gender diversity, organizations must adopt a learning orientation and be willing to change the corporate culture and power structure.”
https://hbr.org/2020/11/getting-serious-about-diversity-enough-already-with-the-business-case

Job Loss, Job Training and Labor Market Scarring

“For many businesses, an effective workforce requires substantial amounts of on-the-job training. The magnitude of the job losses during the pandemic in occupations that require substantial training highlights a risk for workers and employers who may be slow to rebuild human capital or recruit into costly positions.”
https://www.kansascityfed.org/en/publications/research/rme/articles/2020/rme-3q-2020?sm=rs102320

How Does the Pandemic Recession Stack Up against the Great Depression?

“Similarities in severity but not in duration. Consensus forecasts predict that the U.S. economy will expand in the second half of 2020 and into 2021 but that output will remain below the 2019 peak for at least several quarters.”
https://www.stlouisfed.org/on-the-economy/2020/october/pandemic-recession-stack-great-depression

Why the Future of the Office Has Been Put on Hold

“For those who have gone back to the office, not much has really changed.”
https://www.vox.com/recode/21515690/work-from-home-office-coronavirus-covid

Our Work-from-Anywhere Future

“Companies can save on real estate costs, hire and utilize talent globally, mitigate immigration issues, and experience productivity gains, while workers can enjoy geographic flexibility. At the same time, concerns include how to communicate across time zones, share knowledge that isn’t yet codified, socialize virtually and prevent professional isolation, protect client data, and avoid slacking.”
https://hbr.org/2020/11/our-work-from-anywhere-future

Staying Safe During Flu Season

“One in 10 people in the United States will get the flu in a given season, With COVID-19 a factor this year, it’s even more important to take precautions to prevent the flu from spreading.”
https://blog.dol.gov/2020/10/15/staying-safe-during-flu-season

The future depends on what you do today.” – Mahatma Gandhi

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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