The Consequences of COVID-19 for the U.S. Labor Market
(1) Describe the state of the U.S. labor market pre-pandemic. Focus on labor demand and supply as well as types of jobs, immigration and employment conditions. Provide information on core labor market institutions in the U.S. e.g., unemployment insurance, disability benefits, leave regulations. Please use statistical facts and scientific evidence to back your description.
(2) Describe how COVID-19 pandemic affected the U.S. labor market between its start in February 2020 and the current situation in August 2020. What happened to U.S. employment and unemployment? Were the consequences heterogeneous across sectors, types of jobs, educational groups, gender, race/ethnicity, etc.? How about spatial variation? What about experienced workers vs. new graduates? Please use statistical facts and scientific evidence to back your description.
(3) Propose a new policy or modification to an existing policy that would ameliorate the impact of COVID-19 on the U.S. labor market. Please make sure that the policy is feasible to implement in terms of both resources and politics. Pay particular attention to issues of scalability, compliance, potential externalities, and cost-benefit analysis. Justify your choice and thought process using data and/or economic models.