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

May 8, 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 May 4, 2020: 

  • Indeed released its seventh pulse survey on how American workers are handling concerns around the pandemic. This week, 49% of respondents report being concerned with contracting COVID-19 at work, and 48% are worried about spreading the virus while working. These numbers have remained fairly consistent over the course of the study. 
  • Indeed SVP of Global Human Resources Paul Wolfe spoke to PBS in Seattle this week to share tips on how to find a job during the pandemic. 
  • The US economy lost 20.5 million jobs last month, and the unemployment rate is at 14.7%, up from 4.4% in March.  Indeed’s Research Director Nick Bunker shares his analysis on this historic Jobs Day.
  • Another 3 millions Americans filed for unemployment this week, bringing the seven week total to 33 million people. “That’s one in five jobs likely gone in seven weeks. Not only does the pace of layoffs remain at unprecedented levels, but hiring intentions remain depressed,” said Nick Bunker. Read more in NBC News.
  • 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:
    • Taco Bell
    • Burger King
    • Pilot Flying J
    • Hibbett Sports
    • Lowe’s
    • Advantage Solutions
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity,  is 39.3% lower than in 2019, as of May 1. 
  • 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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