For the US economy to begin to recover it needs to stop getting worse. “Recovered” for our purposes means to be at least approaching 2019 levels. The construction market will follow the US economy recovery but historically lags it by 12 to 18 months. Because so many are convinced about this economic decline, that “this one is different”, you might want to predict a lag of say 6 to 12 months. In this “best-case” scenario the construction market would be healthy again as early as March 15, 2021. According to research into the eight major construction market downturns since WWII, that would be an extremely low probability, but let’s work with that optimism for a while. What are the things that could improve or upset this projection? Weekly crisis-era response by Dr. Tom Schleifer. Read more.
Felhaber Larson’s Webinar “How to Implement an Effective Reduction in Force" is available here
A video recording of Felhaber Larson’s May 13th webinar entitled “How to Implement an Effective Reduction in Force” is now available online.Read more.
The International Training Institute recently held its Fire Smoke Damper Technician and Fire Life Safety Level 2 for Instructors class online via Zoom and will continue using online courses for the immediate future. The ITI has previously used an online training portal to educate members around the country, making the transition to online learning easier, said instructor Darrell Garrison.Read more.
More labor department FAQ’s on paid sick leave and expanded FMLA
The Department of Labor (DOL) is back at it again, issuing new FAQ's regarding the FFCRA. Most relate to how to determine the hours and pay to which employees working irregular hours are entitled if and when they take Emergency Paid Sick Leave (ESPL) and Expanded Family and Medical Leave (Expanded FMLA). They conclude with a very helpful discussion of what happens to Expanded FMLA when school lets out for the summer. Read more.
The coronavirus pandemic shattered the global economy. To put the pieces back together, we need to make sure money is going to the countries that need it the most -- and that we rebuild financial systems that are resilient to shocks, says Kristalina Georgieva, managing director of the International Monetary Fund. She takes us inside the massive economic stimulus efforts leading the world toward recovery and renewal and discusses what it will take for countries to emerge from this "great transformation" even stronger than before. Watch here.
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