Boca Raton, FL – The National Council on Compensation Insurance (NCCI) recently released its Quarterly Economics Briefing for Q2 2020. This edition delivers two reports on how the coronavirus (COVID-19) pandemic has affected employment.
Job Losses During the Coronavirus Pandemic, February to May 2020
The coronavirus pandemic has caused layoffs on a scale unprecedented in recent history, but its effects differ significantly across industries and states. Using the first comprehensive employment data now available, this report surveys job losses during the pandemic’s initial phase from February to May.
- Job losses most severely affected services with high interpersonal proximity, and goods and services whose consumption is nonessential in the sense of being discretionary or deferrable
- Job losses in manufacturing and construction appear to be a secondary effect of pandemic-induced employment contractions in services
- As of mid-April, state job losses ranged from 8% to above 20% of pre-pandemic employment
Job Losses and Physical Proximity
Physical proximity, including in the workplace, is a key risk factor for infectious diseases such as coronavirus. This report estimates the share of workers in each economic sector who work in close physical proximity to others. It also discusses the relationship between physical proximity and sector job losses during the pandemic.
- Over 70% of workers in Accommodation and Food Services, Health Care and Retail Trade work in occupations with high physical proximity to others
- 10% or fewer workers in the office-based sectors of Finance, Management, and Professional Services work in high-proximity occupations
- The largest percentage job losses during the pandemic came in economic sectors with large shares of high-proximity workers
- Within economic sectors, job losses were larger for subsectors with large shares of high-proximity workers, subsectors that are closely connected with high-proximity sectors, and subsectors that provide discretionary goods and services
Read the full reports:
- NCCI QEB Q2 2020: Job Losses During the Coronavirus Pandemic, February to May 2020
- NCCI QEB Q2 2020: Job Losses and Physical Proximity