Workforce Development News – July 12, 2021

By on July 12, 2021
Signs Point to Tight Labor 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 COVID-19 Unemployed

“How many unemployed Americans are actively seeking work? How many plan to return to work this summer… this year… ever? And for those unemployed Americans who are seeking work right now, what barriers stand in the way?”
https://www.uschamber.com/report/poll-the-covid-19-unemployed

It’s Time for Leaders to Get Real About Hybrid

“Employers are ready to get back to significant in-person presence. Employees aren’t. The disconnect is deeper than most employers believe, and a spike in attrition and disengagement may be imminent.”
https://www.mckinsey.com/business-functions/organization/our-insights/its-time-for-leaders-to-get-real-about-hybrid

Despite June’s Positive Jobs Numbers, Black Workers Continue to Face High Unemployment

“The number of people who are not in the labor force but who currently want a job is at 6.4 million—up by 1.4 million since February 2020.”
https://www.brookings.edu/blog/the-avenue/2021/07/02/despite-junes-positive-jobs-numbers-black-workers-continue-to-face-high-unemployment/

Pace of U.S. Job Growth Picks Up As Signs Point to Tight Labor Market

“What is the relative pace of demand and supply improvements in the labor market, an issue that will affect the pace of nominal wage growth and price growth and will the economy be able to close the full 9 million jobs gap quickly or will the last few million jobs be more difficult because some people have permanently left the labor force as a result of the pandemic?”
https://www.piie.com/blogs/realtime-economic-issues-watch/pace-us-job-growth-picks-signs-point-tight-labor-market

How Much Slack Is Left in the Labor Market?

“While overall employment in June remained 7.1 million jobs below the February 2020 level, almost all of the labor market slack created by COVID-19 had already been absorbed. The remaining slack is likely to be absorbed by the end of summer.”
https://www.dallasfed.org/research/economics/2021/0706

Why Does It Cost So Much to Build Transportation in America?

“The problem is fundamentally that the U.S. is getting very little for what it builds. And often, we’re just paying for wealthy individuals to exert their preferences over everyone else.”
https://www.vox.com/22534714/rail-roads-infrastructure-costs-america

Anxiety, Depression Persist for Some Despite Waning Pandemic

“Adults who are young, have household incomes below $75,000, or have some college but no degree are still experiencing elevated anxiety and depression.”
https://medium.com/georgetown-cew/anxiety-depression-persist-for-some-despite-waning-pandemic-ac1ddef43691

Older Millennials Experience Pandemic Hardships Unequally

“Older nonwhite millennials and older millennials who lack a four-year college degree have clearly borne disproportionate levels of financial distress during the pandemic. A lack of emergency savings likely played a role.”
https://www.stlouisfed.org/on-the-economy/2021/july/older-millennials-experience-pandemic-hardships-unequally

Twice as Many U.S. Renters Fell Behind on Payments During the Pandemic

“The nationwide total rent debt is upward of $20 billion, with more than 5.8 million renters, or 14%, in arrears.”
https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2021/07/07/twice-as-many-us-renters-fell-behind-on-payments-during-the-pandemic

In June, 6.2 Million Unable to Work Because Employer Closed or Lost Business Due to the Pandemic

“575,000 were age 16 to 24, 3.7 million were age 25 to 54, and 1.9 million were 55 years and over. This is down from 7.9 million in May 2021 and from 49.8 million in May 2020.”
https://www.bls.gov/opub/ted/2021/6-2-million-unable-to-work-because-employer-closed-or-lost-business-due-to-the-pandemic-june-2021.htm

Strict Social Distancing in the U.S. Dwindles to 18%

“5% are completely and 13% mostly isolating themselves from nonhousehold members. Majority report that their socializing is completely back to normal. Entertainment and travel suffering most in people’s reports of normalcy.”
https://news.gallup.com/poll/352166/strict-social-distancing-dwindles.aspx

If You’re Going to Raise Prices, Tell Customers Why

“A research-backed approach to communicating the change.”
https://hbr.org/2021/06/if-youre-going-to-raise-prices-tell-customers-why

Brave people don’t live forever, but cautious people don’t live at all.” – Richard Branson

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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