Quarterly Economics Briefing

Quarterly Economics Briefing - Q4 2020

By NCCI Insights January 25, 2021

This edition of the Quarterly Economics Briefing consists of two reports on the coronavirus recession and its impacts on workers compensation. A review of the current state of the coronavirus recession and the outlook for 2021, and a second report on how the pandemic has affected remote work.

The COVID-19 Recession at Year-End: Perils and Prospects for 2021

From October through December, the pace of employment recovery slowed to near zero as a massive virus surge hit the United States. Job losses continue to be concentrated in service sectors, and especially in low-wage jobs. At year-end, low-income households and small businesses find themselves under stress. Also in December, the first vaccines started distribution and a new stimulus package reinstated relief programs that had expired last fall. In this report, we review the state of the COVID-19 recession going into 2021 and consider what changes are likely to persist in a new, post-COVID economy.

Remote Work Before, During, and After the Pandemic

Remote work has skyrocketed during the coronavirus pandemic. This report reviews the changes in remote work before and throughout 2020. We also evaluate potential impacts of a permanent increase in the amount and importance of remote work from pre-pandemic trends.

This article is provided solely as a reference tool to be used for informational purposes only. The information in this article shall not be construed or interpreted as providing legal or any other advice. Use of this article for any purpose other than as set forth herein is strictly prohibited.

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