Coronavirus: The Labor Force Part One

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 18 July 2020

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The labor force has been decimated over the last several weeks, and perhaps no group has been impacted more than the older works. According to an analysis from the Economic Policy Institute, older workers are less likely than younger ones to have jobs that can be done remotely. Almost 8 in 10 workers over 65 can’t telecommute, compared with about 6 in 10 between 35 to 44, the analysis found. At the same time, older Americans may be at higher risk of complications from the coronavirus due to their higher rate of chronic health issues. To discuss this and much, much more, we're joined by labor economist Teresa Ghilarducci. Any time I get a chance to chat with Teresa, I consider it a must listen. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Jill on Money Coronavirus Market Update. It is Saturday, July 18th.
0:10.0	And you know on the weekends we really like to feature an interview with someone interesting
0:15.1	who can help us think about the current world in different ways. It is such a great pleasure for me
0:20.9	to introduce you to Teresa Giladucci. She is a labor
0:25.3	economist and a nationally recognized expert in retirement security. She's a
0:30.5	professor at the new school and you know she's on sabbatical right now, but she still agreed to do this
0:37.1	She does fantastic research and so in part one of this interview she's going to really focus on the impact of COVID
0:44.3	on the folks who are a little bit older in our workforce and what we should
0:49.3	expect in terms of job losses how how many will be permanent.
0:53.7	So here is the first part of our interview with Teresa Gillard Duchy.
0:58.1	Over the last three, four months, we've had almost 50 million Americans filed for unemployment benefits
1:05.4	that it's just a mind-boggling number so how would you characterize the current
1:10.8	labor market? We economists are wondering
1:14.0	on whether or not this is just an artifact of the virus
1:19.0	and the shutdown we need
1:21.0	because the virologists tell us that this is the way to curb the virus and that we're just pausing an otherwise healthy economy and when we have a vaccine or
1:35.0	there was underlying weakness in our economy
1:40.0	before we got here and what the COVID shutdown is doing is just exposing
1:46.5	those weaknesses and when we come back from the pandemic we are going to have
1:52.4	much higher rates of unemployment.
1:55.0	So the unemployment numbers are the highest we've seen since the Great Depression.
2:00.0	But are they real? Are they permanent? We're finding that for older workers, for instance,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Audacy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Audacy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.