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MNI BRIEF: Scant Evidence Covid-19 Shook Up US Workforce-Paper

(MNI) London

Covid-19 may not have shaken up the U.S. workforce as much as thought, an ECB paper argues.

There is little evidence to support claims the Covid-19 pandemic prompted U.S. workers to switch jobs en masse, a Working Paper published by the ECB argues, with no clear increase in occupational or sectoral switch and few signs of mismatch pushing up unemployment.

Overall, reallocation shock has played only a relatively minor role in explaining labour market patterns in the pandemic, relative to its importance in earlier episodes, the authors conclude, in contrast to earlier findings from the U.S, although they cautioned that it may be too early to provide a definitive verdict.

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There is little evidence to support claims the Covid-19 pandemic prompted U.S. workers to switch jobs en masse, a Working Paper published by the ECB argues, with no clear increase in occupational or sectoral switch and few signs of mismatch pushing up unemployment.

Overall, reallocation shock has played only a relatively minor role in explaining labour market patterns in the pandemic, relative to its importance in earlier episodes, the authors conclude, in contrast to earlier findings from the U.S, although they cautioned that it may be too early to provide a definitive verdict.

Keep reading...Show less