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

May 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 May 11, 2020: 

  • Indeed released its eight pulse survey on how American workers are handling concerns around the pandemic. Over the course of the pulse survey, concerns with the challenges faced while working from home have remained steady, coming in at 35%, while worries over finances have seen the biggest decline since week one. 
  • This week Indeed also released the results of its college graduates survey. Over half of new grads are worried about finding a job because of COVID-19, and 34% are concerned about landing a job in their field of study as a result of the pandemic.
  • Indeed SVP of Global HR spoke to ABC 7 San Francisco about what job seekers can do to find a job right now – including always having your resume updated, whether you are looking now or not. 
  • Indeed VP of Diversity, Inclusion and Belonging LaFawn Davis wrote an exclusive piece for Fast Company on combating xenophobia at work during the pandemic. 
  • Indeed Research Director Nick Bunker analyzed the monthly Job Openings and Labor Turnover Survey (JOLTS). He said “ There were 11.4 million layoffs and discharges in March, an all-time high and almost 10 times more than in February.”
  • The number of US unemployment insurance claims is now more than 36 million, over the last eight weeks. Nick Bunker said “Unemployment claims are still tracking in the millions and job postings on Indeed are still growing far slower than last year.” Read more in US News & World Report.
  • 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:
    • Amazon.com
    • Home Depot
    • Spectrum
    • Accenture
    • Taco Bello
    • Burger King 
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity,  is 39% lower than in 2019, as of May 8, a slight improvement over the May 1 number.
  • 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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