The impact of the spread of the coronavirus is evident in the US labor market, with the main consequence being a reduction in recruitment in March 2020 compared to a year ago. According to LinkedIn data, the USA is moving into a period of uncertainty as employers quickly change hiring strategies. At the same time, they steadily change the way they sell goods and services. There is no doubt that the labor market is reshaping itself after the coronavirus outbreak with what it can mean – good or bad – for both employers and employees.
LinkedIn data shows a demand for workers in roles that are on the frontlines of helping the community navigate this pandemic, and are critical to supporting the rapidly-changing healthcare and infrastructure needs of the country.
These are the top 10 in-demand jobs in the USA, based on LinkedIn job posts during March 15-21, 2020:
3.Certified Public Accountant
Furthermore, the LinkedIn workforce report published in April 2020 presents a fairly representative picture of the labor market in America at this time. Gross hiring across all industries in the U.S. is 1.1% lower than in March 2019, the largest drop in LinkedIn’s hiring rate since January 2017. Looking at trends month-over-month, national hiring is 1.3% lower in March from February 2020, the largest single-month decline since February 2016.
According to the above, LinkedIn data shows a rise in demand for workers in roles that are on the frontlines of helping us go through this pandemic.
Also, data reveals the industries that have been most resilient to this pandemic. There are slight drops across Software & IT Services (0.8% lower), Public Safety (1% lower), and Legal (1.2% lower). This may be because many tech companies are now staffing up to support infrastructure for large remote workforces, or given the nature of the work, employees are more easily able to work from home.
On the other hand recreation and travel industry, real estate industry, wellness, and fitness industry and consumer goods industry have the most significant hiring drops. From February to March 2020 hiring has dropped 20,9% in the wellness and fitness industry. At the same time the reduction in recruitment rate in the recreation and travel industry, in the real estate industry and consumer goods industry is 22,2%, 19,7%, and 19,7% respectively. Also, the hiring rate in retail industry has dropped 18,6% from February to March 2020. Not to forget to mention that hiring rate in entertainment industry has dropped 17,8% from February to March 2020.
To draw the above conclusions, LinkedIn used insights of 20 of the largest U.S. metro areas: Atlanta, Austin, Boston, Chicago, Cleveland-Akron, Dallas-Ft. Worth, Denver, Detroit, Houston, Los Angeles, Miami-Ft. Lauderdale, Minneapolis-St. Paul, Nashville, New York City, Philadelphia, Phoenix, San Francisco Bay Area, Seattle, St. Louis, and Washington, D.C.
Generally, across all industries, hiring in the U.S. is 1.1% lower than in March 2019. National hiring was 1.3% lower in March from February 2020.
Despite the difficult situation, there are some companies that hire employees. These are the top 10 companies in the US with the most open jobs:
2.Army National Guard
LinkedIn’s hiring rate gives an early insight into how the labor market is responding and what might lie ahead for those who are just beginning to feel the impact of COVID-19. Also, from conversations on LinkedIn, it is clear that some companies have been adapting interview processes that may slow the time-to-hire, while others delay start dates for the time being.
LinkedIn analyzed migration of its members between US cities for the past 12 months to create a ranking of cities that lost the most workers. So for every 10.000 LinkedIn members in Bryan- College Station, 256 left in the past year. For every 10.000 LinkedIn members in State College, almost 248 left in the past year and for every 10.000 LinkedIn members in Urbana- Champaign, 215 left in the past year.
On the other hand, for every 10.000 LinkedIn members in Austin, 143,3 arrived in the past year. In Charlotte arrived 88,7 and in Denver 82,57. Closely follow Seattle, Tampa – St. Petersburg, Phoenix, Raleigh- Durham, Las Vegas, Portland and Dallas- Fort Worth.Track Latest News Live on CEOWORLD magazine and get news updates from the United States and around the world. The views expressed are those of the author and are not necessarily those of the CEOWORLD magazine.
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