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

August 28, 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 24, 2020:

• New research from Hiring Lab’s Tara Sinclair indicates that job seekers who are unemployed due to COVID-19 are more likely to search for a similar job to what they had before the pandemic, rather than make a career change.
• Unemployment claims continue to remain at a high volume as the pandemic continues. Economist AnnElizabeth Konkel discussed the decline in job postings on Indeed with the Wall Street Journal, explaining, “such a trend could point to long-term uncertainty among employers, as those in higher-wage sectors might plan their head counts based on projections for business demand several quarters into the future.”
• 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
  • Apple
  • Ochsner Health Systems
  • Accenture
  • Walgreens
• So far in 2020, the trend in job postings, a real-time measure of labor market activity, was 20.8% lower than in 2019, as of August 21, the second consecutive week of decline in this metric since late April.
• 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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