COVID-19, labor demand, and government responses: evidence from job posting data

Xiaobing Shuai (), Christine Chmura and James Stinchcomb
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Xiaobing Shuai: Chmura Economics & Analytics
Christine Chmura: Chmura Economics & Analytics
James Stinchcomb: Chmura Economics & Analytics

Business Economics, 2021, vol. 56, issue 1, No 6, 29-42

Abstract: Abstract Using high-frequency job advertisement data, this paper evaluates dynamics among COVID-19, labor market, and government policies. We find that COVID-19 has caused a significant decline in labor demand, by as much as 30%, measured by the number of job advertisements. But the pandemic did not result in noticeable changes in advertised wages. Regarding the roles of government policies, the study finds that the “stay-at-home” measures implemented by states appeared to suppress labor demand. The Paycheck Protection Program (PPP) program helps to stabilize the advertised wages, but also suppresses labor demand. Finally, the pandemic may increase labor demand for certain healthcare-related occupations.

Keywords: COVID-19; Labor demand; Government policy; Job advertisement (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (7)

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DOI: 10.1057/s11369-020-00192-2

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