Weekly Insights: COVID-19, The Labor Market & Jobs

May 1, 2020 — Each week, Indeed shares the latest information on the impact COVID-19 is having on the labor market, job seekers and employers.

Here’s what happened the week of April 27, 2020: 

  • Indeed’s latest pulse survey of how American workers are handling the pandemic shows the largest decline in worries yet – financial worries are down 10% as compared to the first week’s survey. Caring for loved ones, managing mental health and balancing childcare arrangements are all down six points this week. 
  • Indeed Chief Economist Jed Kolko authored an exclusive piece for Quartz, addressing what the COVID-19 pandemic means for job seekers, hiring and the future of work. He says, “Under huge uncertainty, we need more imagination and less prediction. Imagining the range of possible scenarios lets us begin to plan.”  
  • Indeed’s SVP of Global HR Paul Wolfe spoke to ABC 7 Los Angeles to discuss the current job market in Southern California, including companies who are hiring now, and how Virtual Hiring Events can help job seekers find a job while keeping social distancing. 
  • This week, 3.3 million Americans filed for unemployment, bringing the total number to a staggering 30 million in the past six weeks. Indeed’s Research Director Nick Bunker said “A number in the low millions may be a relief compared to earlier this month, but it’s objectively a horrifying statistic. Unfortunately, these figures understate how many people are currently jobless.” Read more in US News & World Report. 
  • Despite the dire unemployment claims, companies are still hiring. Over 500,000 jobs are added to Indeed each week in the U.S. alone. Here are just some of the companies who are hiring right now:
    • United States Postal Service`
    • Wells Fargo
    • Lowe’s
    • State Farm 
    • Steak N’ Shake
    • McDonald’s
    • Genentech
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity,  is 36.7% lower than in 2019, as of April 24.
  • This week, Indeed helped job seekers in the state of New York connect with over 100 employers hiring immediately for front-line roles in the fight against COVID-19 with a series of free virtual hiring events.
  • Indeed has also rolled out several product updates to help those whose jobs have been impacted by COVID-19. More information on how job seekers can use these tools to quickly and easily connect with employers in a way that reflects the social distancing and shelter-in-place measures can be found here
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