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

July 31, 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 July 27, 2020:

• Chief Economist Jed Kolko spoke with Bloomberg Radio about the current state of the job market, highlighting that tech and remote job postings are still down by more than a third.
• The number of new unemployment claims in the US has increased for the second week in a row. Indeed Research Director Nick Bunker told the Washington Post that a new surge in cases seems to have slowed job postings in cities like Los Angeles and Miami.
• Indeed announced the addition of new virtual interviewing technology for Virtual Hiring Events to help people find work quickly. The latest post from Lead with Indeed details the new offering. 
• New research from Hiring Lab economist AnnElizabeth Konkel indicates that job postings in the tech sector are now performing worse than the overall job market as the pandemic progresses. 
• 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
  • Panda Restaurant Group
  • Allstate Insurance
  • Lowe’s
  • Walgreens
  • Accenture
• So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 21% lower than in 2019, as of July 24,  the twelfth week of gradual 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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