Friday, June 26, 2020
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Working from home is great if you already have a job.
In recessions, lots of bad things happen to the labor market.
Unemployment rises sharply.
Wage gains level off.
And the number of open jobs plummets.
All of which leads to dimmer prospects for those both employed and unemployed.
After a sluggish recovery for the labor market during the early part of the 2010s, data showing the number of workers quitting jobs on the rise, the number of job openings at record highs, and wages rising at the fastest rate in almost a decade were all signs that dynamism had returned to the labor market.
And while we’re still in the early stages