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

September 25, 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 September 21, 2020:

  • SVP of Global Human Resources Paul Wolfe spoke to CNBC.com about how to prepare for a virtual interview.
  • VP of Diversity, Inclusion, and Belonging, LaFawn Davis, published a piece with Fast Company to share how organizations can encourage inclusivity in the future of remote work. 
  • Initial unemployment insurance claims are still seven times higher than they were in the pre-COVID era. Economist AnnElizabeth Konkel tells the New York Times, “Compared to April, they’re trending down, but if you’re comparing to the pre-Covid era they are still so high…We’re losing steam, which is definitely not good heading into the winter.”
  • At this point in the pandemic, lower-wage jobs like retail are bouncing back, while higher-paying jobs are lagging behind, chief economist Jed Kolko shared with Axios. “High-wage sectors often think differently about hiring,” he says. “It costs them more to fire and hire than it does low-wage sectors.”
  • 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:
    • Apple
    • FirstService Residential
    • The MENTOR Network
    • Intuit
    • Walgreens
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 18.2% lower than in 2019, as of September 18, a fourth straight week of slight improvement.
  • 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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