The United States Patent and Trademark Office (USPTO) Office of the Chief Economist today released a new Economic Note looking at the impact of the COVID-19 pandemic on employment, with a special focus on those industries that most intensively use various forms of intellectual property (IP).
Analyzing monthly employment data from the Bureau of Labor Statistics (BLS), the study finds that:
- Initial job losses (as a share of total employment) were lower in the IP-intensive industries than in other, non-IP-intensive industries.
- Employment in the copyright-intensive industries was slower to recover, reflecting a significantly slower initial recovery in the performing arts and creative industries in the first year of the pandemic.
- The performing and creative arts industries would see significant improvement in the spring and summer of 2021, helping to push a strong recovery in the copyright intensive industries through the rest of the year.
For more details and information, read the Economic Note.