The Failure of Big Data to Address Problems in the Workforce during the COVID-19 Era
Abstract: The COVID-19-driven recession has devastated the U.S. labor market and American workers. In March 2020, in the span of a month, initial unemployment weekly claims increased from 216,000 (U.S. Department of Labor 2020c) to a peak of 6.8 million, setting new records for unemployment since the Great Depression (U.S. Department of Labor 2020a). The total insured unemployment rate increased from 1.2 percent on March 14 to 14.8 percent on May 16, which translates to about 22 million unemployed (U.S. Department of Labor 2020b).
Provider: Federal Reserve Bank of Atlanta
Part of Series: Workforce Currents
Publication Date: 2021-04-16