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

September 4, 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 August 31, 2020:

  • Hiring Lab Senior Fellow, Tara Sinclair, spoke with Axios about the current state of the labor market and the change in job postings on Indeed, saying, “There aren’t enough jobs to go around. It’s like playing musical chairs, and we’ve taken a whole lot of chairs out of the circle at once.”
  • VP of Diversity, Inclusion, and Belonging, LaFawn Davis, shared the importance of “belonging” in the workplace – especially during a global pandemic. Her full article can be found here on Lead with Indeed.
  • The US unemployment rate fell to 8.4% from 10.2% in July, the first time it’s been under 10% since March. Hiring Lab Research Director, Nick Bunker, told CNN, “More people with more jobs is something to celebrate, but we need to be concerned about how sustainable these gains will be.”
  • Indeed released a 2020 Back to School Guide on the Career Guide for working parents balancing their careers and school during the pandemic. 
  • Indeed’s Career Guide shared insights for job seekers on how to rethink their job search strategies during an economic downturn. 
  • 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:
    • Chipotle Mexican Grill
    • Kindred Healthcare
    • Spectrum
    • Spirit Halloween Super Store
    • Panera Bread
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 20.2% lower than in 2019, as of August 28, a slight increase after two weeks of backsliding.

Indeed has 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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