At The Money – Long COVID hits the job market

We’ll look at how long the coronavirus intersects with the labor shortage. We’ll also look at President Biden’s plan for semiconductors, school teacher strikes and the resurgence of air travel on Labor Day.

But first, see why ANNUAL BENEFITS It may be on the way.

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How long will the Corona virus affect the labor shortage in the United States

Persistent COVID-19 symptoms could put millions of Americans out of the workforce.

Economists and policymakers have struggled to see why there is a much lower percentage of working-age adults in the workforce than there was before the pandemic.

  • The number of Americans working or looking for work exceeded the pre-pandemic level in August, according to Labor Department data released Friday.
  • But the labor force participation rate is still one percentage point lower than its level in February 2020, a gap of roughly 1.6 million people.

A smaller work force hasn’t prevented the US from adding jobs at a rapid rate since mid-2020. However, thousands – if not millions – of Americans could be on the sidelines of a quick recovery because they are still very ill with protracted COVID-19 symptoms.

“We don’t know what percentage of people have very debilitating symptoms with a high degree of certainty,” said Julia Raifman, an assistant professor in the Boston University School of Public Health.

“But we know that this happens to some people and we know that every injury seems to increase the chances of it happening,” she added.

sylvan He has more here.

chips on the table

Biden administration unveils plan to boost semiconductor production

The Biden administration on Monday revealed its plan to boost domestic chip production in the United States using $50 billion in funding from the CHIPS and Science Act passed this summer.

  • The Commerce Department said in an announcement that the administration will use the majority of the funding, about $28 billion, to create domestic production of advanced logic and memory chips through grants, subsidized loans or loan guarantees.
  • The administration will use about $10 billion to increase production of the current generation of semiconductors and chips. An additional $11 billion will be invested in research and development.

Rebecca Clare Hill has the latest.

Out of school

Seattle teachers union allows strike, which could delay start of school year

Union teachers at Seattle Public Schools (SPS) voted Tuesday to authorize a strike, threatening to delay the start of the school year on Wednesday if a contract agreement is not reached.

The Seattle Educational Association (SEA) announced Tuesday afternoon that 95 percent of voters approved the strike, with three-quarters of its 6,000 members participating.

Union leaders said they are continuing to negotiate with the school district throughout the day, but may begin to strike on Wednesday morning if no agreement is reached.

Zach Schoenfeld in the hill break it

Air Frenzy

Labor Day marks the first weekend to exceed pre-pandemic air travel levels, according to the Transportation Security Administration

Nearly 9 million people passed through the nation’s airports over the Labor Day weekend, the first weekend to exceed pre-pandemic air travel levels, according to Transportation Security Administration (TSA) data.

The agency announced Tuesday that it screened 8.76 million passengers between Friday and Monday, which represented 102 percent of its Labor Day weekend passenger volume in 2019.

“TSA’s highly trained and dedicated workforce has facilitated the safe travel of millions of passengers during the busy summer travel season with little disruption at the checkpoint,” TSA Acting Director David Pekosky said in a statement.

“We have also been able to continue to deploy new technologies that facilitate robust identity verification and enhanced security screening for carry-on bags.”

here more from Zack.

good to know

Now that the term “quit smoking quietly” has spread all over the Internet, the new phrase – “shoot quietly” – is Shift the focus around workplace culture About how employers treat their employees.

It’s not an unusual tactic, with more than 80 percent of respondents saying they have either witnessed or experienced a quiet shooting, according to a recent LinkedIn News poll.

That’s enough for today. Thank you for reading and checking out The Hill’s Finance page For the latest news and coverage. OK see you tomorrow.

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