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

May 29, 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 25, 2020: 

  • Indeed released its tenth and final pulse survey on how American workers are handling concerns around the pandemic. This week, US workers report the lowest level of concern for losing their jobs in ten weeks. Balancing childcare arrangements are also at an all time low. 
  • SVP of Global HR Paul Wolfe spoke to the Los Angeles Times this week about job hunting during the pandemic, including looking outside of your current industry and how your skills may transfer.  
  • This week, Indeed’s Chief Economist Jed Kolko talked to Indeed COO Dave O’Neill about the impacts COVID-19 has had on the labor market in the video series “Here to Help.”
  • Economist AnnElizabeth Konkel found that nonmedical essential workers are in demand, but job seekers are wary of the risk of infection. Her new research suggests raising wages may help employers hire.
  • The number of US unemployment claims is now over 40 million. Research Director Nick Bunker said, “Another week of data shows the number of initial unemployment claims slowing, but the historic level of joblessness is still on the rise. The best measure of initial claims was 3.1 million last week, 15 times higher than pre-coronavirus levels.”
  • 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:
    • Chili’s
    • Taco Bell
    • Lowes
    • Subway
    • Area Wide Protective
    • Alorica
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity,  is 35% lower than in 2019, as of May 22, the third consecutive week of 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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