CNBC reporter Greg Iacurci writes that a new paper by members of MIT’s Task Force on the Work of the Future demonstrates how the Covid-19 pandemic has exposed flaws in unemployment benefits for American workers.
Three years after President L. Rafael Reif delivered an “intellectual call to arms” to examine the impact of technology on jobs, the MIT Task Force on the Work of the Future has published its final set of recommendations. “In an extraordinarily comprehensive effort, they included labor market analysis, field studies and policy suggestions for changes in skills-training programs, the tax code, labor laws and minimum-wage rates,” writes Steve Lohr for The New York Times.
Wall Street Journal reporter Christopher Mims spotlights Prof. Daron Acemoglu’s research examining the impact of automation on employment and a new essay from Prof. David Autor and Dr. Elisabeth Reynolds that illustrates how the pandemic could exacerbate economic inequality.
Bloomberg reporter Yifan Feng writes that a new study co-authored by MIT researchers shows women have been disproportionately impacted during Japan’s Covid-19 recession. The researchers found that “female workers fare worse than males and their negative welfare effects are three times as large as those of male workers.”
The Economist spotlights a recent essay by Prof. David Autor and Elisabeth Reynolds, executive director of the MIT Task Force on the Work of the Future, about the impact of the coronavirus pandemic on the state of work. “If remote working proves a lasting shift, then the café staff, taxi drivers and cleaners who depend on their custom could find themselves out of work,” writes The Economist.
MIT researchers have found that the Paycheck Protection Program helped protect around 2.3 million jobs, reports Jonnelle Marte for Reuters. “The researchers compared hiring trends at companies that were eligible for the program to those that were too large to qualify,” writes Marte. “They found that hiring at eligible companies rose after the launch of PPP when compared to companies that did not qualify.”
Bloomberg reporter Maeve Sheehey writes that a new study co-authored by MIT researchers finds that the Paycheck Protection Program helped to boost employment by 2% to 4.5%. “The research suggests that providing money directly to companies helped curb job losses during the pandemic,” writes Sheehey.
A study co-authored by MIT researchers finds that the Paycheck Protection Program saved between 1.5 and 3.5 million jobs, reports David Leonhardt for The New York Times. “The study adds to the mounting evidence about one kind of economic stimulus that seems to have worked especially well during the pandemic: direct subsidies to businesses, to keep people employed.”
Fast Company reporter Kristin Toussaint writes about a new study by Prof. David Autor that finds middle class jobs for non-college grads are disappearing, particularly for Black and Latino workers. Autor suggest that higher minimum wages “are surprisingly effective at improving the incomes of workers in low wage jobs,” adding that “they don’t seem to have noticeable adverse effects on employment.”
Prof. David Autor has found opportunities for minority workers in cities have receded, particularly those without college degrees, reports Jonnelle Marte for Reuters. “As the middle hollowed out, (minority workers) were more exposed to middle-skilled work, and net of that, they were also over-represented at the low end and under-represented at the high end,” says Autor.
Bloomberg reporter Peter Coy writes that a new study by Prof. David Autor finds cities are no longer “escalators of opportunity” for people in middle-paying jobs, in particular Black and Latino workers. Coy writes that Autor proposes, “one solution is to raise minimum wages in cities, which would raise the living standards of low-income workers.”
A study by Prof. David Autor finds that cities no longer guarantee middle-wage opportunities for Black and Latino workers, reports Andrew Van Dam for The Washington Post. "Changes in occupational structure, in cities, have been larger and arguably less favorable among Blacks and Hispanics than among whites," says Autor.
Axios reporter Erica Pandey writes that a study by Prof. Thomas Kochan underscores how the Covid-19 pandemic has uncovered longstanding shortcomings in worker power. "The key to going from isolated protests at a place like Amazon or Walmart to a force that’s really going to get the company to respond is the customer," says Kochan."Customers are the hidden source of power for workers."
Writing for The Boston Globe, Prof. Amy Glasmeier, graduate student Zach Avre and Thomas Goff of Mass Economics argue for extending unemployment benefits and raising the federal minimum wage. “The quickest way to make all Americans sleep easier at night — and be willing to go back to work and help the economy recover — is by providing a living wage to get by in the era of COVID-19,” they write.
Writing for The Boston Globe, Prof. Thomas Kochan and senior lecturer Barbara Dyer address how to tackle growing income inequality in the U.S. “If we are serious about reducing inequality in our country, it’s time to rethink and rework the fundamental framework of US labor law to support the next generation’s labor movement,” they write.