Covid-19 continues to stalk the US economy. The number of daily new infections rose for the virus to an average of 169,709 on Thursday/Friday last week. This compares with a high-point of 304,807 (January 8th).
Daily fatalities climbed to an average of 1,941 over these two days. The peak for Covid-19 related deaths in the US is currently 4,489 (January 11th).
The contrast with the UK is striking. Daily new infections averaged 37,439 over Thursday/Friday. This is just over half the peak of 67,775 (January 8th).
Fatalities averaged 157. This compares with a peak of 1,824 (January 20th).
In short, the fatality rate in the US is much higher, courtesy of lower vaccination rates. Small wonder that President Biden is mandating Federal employees (and contractors) are vaccinated. Republicans are fighting back, threatening court action.
Covid-19 may damage sentiment in the short run. But race of talent at the top end of the labour market is intensifying too. This is not just a scramble for workers in lower paid occupations. Signs of a pick-up in wages for more qualified workers were evident in the Atlanta Fed median wage tracker too.
Summary
- Job switchers getting paid more too
- Rising job openings for professional & business services
- Census Bureau report details rising spending on software
