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Women Take a Bigger Hit in the First Wave of Job Losses due to COVID-19
The temporary shutdown orders and social distancing measures taken to fight the COVID-19 outbreak have caused substantial job losses in the United States. Women, especially those without a college degree, have taken a bigger hit in the first wave of job losses. This imbalance could lead to prolonged damage to women’s employment and labor market attachment if job losses deepen and persist in the coming months.
Pandemic Relief Has Aided Low-Income Individuals: Evidence from Alternative Financial Services
Although low-income individuals are more likely to have lost their jobs due to the COVID-19 pandemic, pandemic relief efforts may have helped prevent them from experiencing increased financial distress. Consumer interest in payday loans, title loans, and pawn loans have all declined since the onset of the pandemic, suggesting low-income individuals have been able to access credit and meet basic financial needs without the use of these alternative financial services.
Women Are Driving the Recent Recovery in Prime-Age Labor Force Participation
The labor force participation rate of prime-age individuals (age 25 to 54) in the United States declined dramatically during and after the Great Recession. While the rate remains below its pre-recession level, it has been increasing steadily since 2015. We examine how different demographic groups have contributed to this rebound and find that college-educated women have made the largest contribution to the recent recovery in the prime-age labor force participation rate.
The Uneven Recovery in Prime-Age Labor Force Participation
The labor force participation rate of prime-age individuals (age 25 to 54) in the United States declined dramatically during and after the Great Recession. Although the prime-age labor force participation rate has been increasing since mid-2015, it remains below its pre-recession level. Understanding the reasons for this decline requires detailed analysis; aggregate statistics on labor force participation may mask potential differences in labor market outcomes by sex or educational attainment. Didem Tzemen and Thao Tran identify these differences, finding that prime-age men and women without ...
Trends in the Labor Share Post-2000
The labor share of income declined sharply in the United States from 2000 to 2010 but seems to have stabilized since 2010. We examine aggregate trends in the labor share and show that the 2000?10 decline was driven by declines in the fraction of income paid to workers in all industries. The stabilization in the labor share after 2010 mostly reflects an increased share of services industries income paid to workers.
How the COVID-19 Pandemic May Reshape the Digital Payments Landscape
Despite an increase in payments made via online or mobile channels in recent years, many consumers have not yet adopted digital payments. The COVID-19 pandemic may be shifting more consumers toward digital payments, along with industry and legislative initiatives designed to facilitate broader access.
Were Teleworkable Jobs Pandemic-Proof?
While the majority of pandemic-related job losses have been in occupations where working from home was not possible, work-from-home or “teleworkable” jobs were not pandemic-proof. In addition, the number of teleworkable jobs lost and recovered differed by workers’ sex and education status. Both college-educated and non-college-educated women experienced larger employment losses and slower recoveries in teleworkable jobs than their male counterparts.