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

October 15, 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 12, 2020:

  • Economist AnnElizabeth Konkel spoke with Reuters about this year’s slump in holiday retail hiring. “Seasonal postings are about 11% below last year, and Konkel said the reasons vary from concerns about future sales, reduced capacity since some stores are closed, and even disruptions in the supply chains that bring goods to market.”
  • Hiring Lab Research Director Nick Bunker spoke with Business Insider on the effects of long-term unemployment in the US. He said, “Longer and longer durations of unemployment are a sign that the shock from the coronavirus is becoming more and more enduring and that the ability for people to quickly be recalled to old jobs seems to be fading.”
  • Axios featured Indeed job posting data to show how “the sectors that have bounced back are supporting the new stay-at-home economy.” For example, construction jobs are up 6.7%, and driving jobs are up 11.1% since February 2020.
  • Indeed’s Career Guide released a report highlighting the increase in diversity and inclusion job postings in the US. According to Indeed data, these job postings have risen 123% since May 2020. 
  • This week, the Indeed Virtual Hiring Tour hosted over 3,400 virtual hiring events in the US Midwestern region. Over 830 employers participated with over 7,600 open roles to fill. 
  • 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:
    • Encompass Health
    • EY
    • Walgreens
    • Chase
    • Staples
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 16.5% lower than in 2019, as of October 9, with no improvement over last week.
  • 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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