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

August 7, 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 August 3, 2020:

  • The US jobs report indicates a pullback in job gains in July in comparison to May and June 2020, with 1.8 million jobs added last month. Hiring Lab Research Director Nick Bunker was quoted in the Associated Press saying, “until the virus is under control, a full and sustained recovery will remain out of reach.”
  • New reports show that household debt in the US is on the decline for the first time since 2014. Indeed Economist AnnElizabeth Konkel explains to Marketplace that this may be short-lived now that relief checks and unemployment supplements have expired. 
  • 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
    • Accenture
    • Enlivant
    • Saber Healthcare
    • Kohl’s
    • Walgreens
  • So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 18% lower than in 2019, as of July 31, the thirteenth 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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