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Labor Market Information

Yesterday, I ‘attended’ a Webinar on the Labor Market (and its Short Term Outlook).  It was presented by The Conference Board (see  While there were three presenters, the main information was provided by Gad Levanon (see  A few interesting pieces of information:

  • The current (relatively) high unemployment rate:  heavily driven by temporary layoffs.
  • The ‘Goods’ economy is doing very well; the ‘Services’ economy is suffering.
  • Why is it difficult to find good people right now?
    • Many unemployed people believe that their old job is waiting for them (they are on a temporary layoff).
    • People fear getting COVID at work - so they stay home/collect benefits.
    • Previously working parents are finding they need to be at home being a teacher.  These parents, if they are working, are considering leaving their jobs. 
  • Retirements are up (creating more demand) - COVID is the reason. 
  • AND - you are still seeing people proactively quit jobs because they believe they can quickly find another position.  (This was previously considered a sign of a very strong job market . . . . . . it is still happening.) 

Simply interesting information!