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

October 9, 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 October 5, 2020:

  • Chief Economist Jed Kolko spoke with the Wall Street Journal about recent job posting trends in the US, explaining that “job postings for higher-wage occupations, which include sectors such as technology and finance, have recovered more slowly than those for lower-wage positions.”
  • Economist AnnElizabeth Konkel spoke with The New York Times about the high jobless claims in the US, and how potentially millions of Americans will see their benefits expire in December. She said, “People are going to have their backs against the wall, and it’s pretty much the worst time of the year for the program to end.”
  • The Indeed Career Guide released a report highlighting the trend in contact tracing job postings in the US, along with job descriptions and qualifications for contact tracers.
  • This week, registration opened for the Indeed Virtual Hiring Tour Midwestern US events which will take place October 13 – 16, 2020. To-date, there are over 3,300 Hiring Events scheduled in the Midwest, with over 800 participating employers and over 7,700 open roles.
  • 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:
    • Accenture
    • Sprouts Farmers Markets
    • Target
    • Chase
    • State Farm Mutual Automobile Insurance Company
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 16.4% lower than in 2019, as of October 2, the smallest gap with last year’s trend since late March.
  • 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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