Workforce Development News – Sept. 8, 2020

By on September 8, 2020
The Easy Part Of The Economic Recovery Might Be Over

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 Easy Part Of The Economic Recovery Might Be Over

“There are a bunch of clues in this month’s report that the growth we’re seeing now isn’t as robust as it looks, and that it probably isn’t sustainable without a dramatic change in public health conditions.”
https://fivethirtyeight.com/features/the-easy-part-of-the-economic-recovery-might-be-over/

Job Gains Slowed Again In August As Employers Added 1.4 Million Jobs

“Job growth has slowed steadily since June in a sign of what could be a long and painful recovery from the pandemic recession.”
https://www.npr.org/sections/coronavirus-live-updates/2020/09/04/909433912/job-gains-slowed-again-in-august-as-employers-add-1-4-million-jobs

Federal Reserve Beige Book

“St. Louis Zone: Healthcare contacts reported concerns about hospitals’ abilities to provide care during the flu season in addition to the COVID-19 patients. Contacts emphasized the lack of staffing and high PPE costs. The overall outlook among contacts has improved but is modestly pessimistic. On net, 29% of contacts expect regional economic conditions during the remainder of 2020 to be worse than in 2019.”
St. Louis Region Summary: https://research.stlouisfed.org/publications/regional/beige-book
Complete Beige Book: https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20200902.pdf

Remote Work Is on the Rise and Could Change Everything

“August Job Posting Trends.”
https://www.economicmodeling.com/2020/09/04/remote-work-is-on-the-rise-and-could-change-everything/

Transitioning from Hospitality to Health Care Occupations

“Health care jobs are available to workers in both the restaurant and hotel industries based on overlapping skills and workplace activities that would likely be obtainable by workers at entry, mid-, and advanced levels of both pay and skills. The selected health care occupations meet the criteria for ‘lifeboat jobs,’ meaning they require little to no retraining or reskilling while also providing the opportunity for unemployed workers eventually to return to their previous income level”
https://www.frbatlanta.org/cweo/workforce-currents/2020/08/28/transitioning-from-hospitality-to-health-care-occupations
Report: https://www.frbatlanta.org/-/media/documents/cweo/workforce-currents/2020/08/28/transitioning-from-hospitality-to-health-care-occupations.pdf

Employment Projections and Occupational Outlook Handbook

“The healthcare and social assistance sector is projected to add the most new jobs, and 6 of the 10 fastest growing occupations are related to healthcare.”
https://www.bls.gov/news.release/ecopro.htm

U.S. Worker Satisfaction With Job Safety Down Amid COVID

“Only 65% are completely satisfied with their physical safety at work, which is down from 74% a year ago, and the lowest since 2001.”
https://news.gallup.com/poll/309188/worker-satisfaction-job-safety-down-amid-covid.aspx

What Really Prevents Companies from Thriving in a Recession

“It’s about knowing how to reallocate — and deallocate — resources.”
https://hbr.org/2020/09/what-really-prevents-companies-from-thriving-in-a-recession

US Manufacturing Sustains Growth as Optimism Returns

“The Institute for Supply Management’s PMI rose to 56% in August, but employment contracted for a thirteenth month running.”
https://www.industryweek.com/the-economy/article/21140725/us-manufacturing-sustains-growth-as-optimism-returns

Everything that we see is a shadow cast by that which we do not see.” – Martin Luther King Jr.

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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