COVID-19 crisis: Challenges mount for many Canadian sectors. Ottawa: EDC.
In this report, EDC provides an initial assessment of the potential impacts of COVID-19 on different sectors of Canada’s economy. Their analysis is based on the initial positions of three factors: cash flow and working capital; profit and return ratios; and borrowing and leverage ratios. They also evaluated sectors in terms of stock market losses…Read More
How many jobs can be done at home? NBER Working Paper 26948. Cambridge, MA: National Bureau of Economic Research.
Following the evaluation of social distancing measures in slowing down the spread of COVID-19, the authors look into US occupations that can be performed at home. They examine the share of total wages paid to such jobs, as well as how they vary across cities and industries. All US occupations are classified based on responses…Read More
COVID-19 and jobs: Monitoring the US impact on people and places. New York: McKinsey & Company.
This article emphasizes that the pandemic is accelerating structural shifts in the economy that were already underway. Using digital channels to reach consumers, automating operations, and allowing people to work remotely from home are examples. Moreover, some shifts in consumer behaviour and demand for new types of work may outlast the current public health crisis.…Read More
Economic thoughts on the potential implications of COVID-19 on the Canadian dairy and poultry sectors. Canadian Journal of Agricultural Economics (pre-pub version).
This study explores the impact of COVID-19 on the Canadian dairy and poultry supply chain. Being a food production sector, many businesses are essential and have been able — to some extent — to mitigate economic losses relative to other sectors. The study suggests that some key structures, such as financially stable producers and shared…Read More
How to restart national economies during the coronavirus crisis. New York, NY: McKinsey & Company.
This McKinsey & Company public report presents a strategy for restarting economies in stages. The key is that public health risk inform the level of economic and social restrictions. The methodology offers a risk matrix of virus spread and public health system readiness. This corresponds to a restart strategy with four steps that determine the…Read More
Lives and livelihoods: Assessing the near-term impact of COVID-19 on US workers. New York: McKinsey Global Institute.
Using data from the US Bureau of Labor Statistics, this article analyzes the vulnerability of more than 800 occupations to reductions in pay, furloughs or permanent layoffs. The analysis is based on whether or not the jobs are considered “essential” and whether they require close proximity to others. The authors found that 44 to 57…Read More
COVID19 and the Macroeconomic Effects of Costly Disasters.
In an effort to quantify the macroeconomic impact of COVID-19 on the US economy, the authors examine recent US disasters. In calibrating different shock profiles to reflect the unique nature of COVID-19, the study suggests that the economic impacts could last from two months to over a year (and vary by sector) and would be…Read More
Lock-downs, loneliness and life satisfaction. NBER Working Paper 27018. Cambridge, MA: National Bureau of Economic Research.
This paper looks at the effects that lock-downs have on life satisfaction and happiness by using the 2012–2013 American Time Use Survey. Due to the lock-down measures imposed during the COVID-19 pandemic, life satisfaction increases for married people since they are spending more time together. In contrast, life satisfaction decreases for single people because they…Read More
How to rebuild and reimagine jobs amid the coronavirus crisis. New York, NY: McKinsey & Company.
This McKinsey report discusses the strategies required to help support a labour and business recovery from COVID-19. They point to two main areas of focus. The first is to better understand who needs support to keep their job or to find new work, with particular emphasis on vulnerable groups and SMEs. The second is to…Read More
Labor markets during the COVID-19 crisis: A preliminary view. NBER Working Paper 27017. Cambridge, MA: National Bureau of Economic Research.
This study uses a repeat large-scale panel survey of 80–90 thousand US households — whose purchases are tracked daily — to measure the labour impact of COVID-19. They estimate that 20 million workers lost their jobs by April 6 2020 (far more jobs than in the Great Recession of 2007–2009). The results also highlighted that…Read More