Tips For Finding A New Job In 2021 During The Coronavirus Pandemic

Tips For Finding A New Job During The Coronavirus Shutdown

“Something that is really unique to this crisis is that it happened overnight, basically,” says AnnElizabeth Konkel, an economist at the Indeed Hiring Lab. “It’s always been slower than this, rather than going from one of the best labor markets in U.S. history into becoming one of the worst in three weeks.”

Jobseekers for more than half a decade were used to having all the power in the U.S. labor market. That’s all been flipped upside down in the face of the coronavirus pandemic.

While the job losses happened in a flash, economists believe the recovery is going to be years in the making. Employers cut 22.2 million positions in just a two-month span, what’s nearly 15 percent of all jobs in the U.S. economy. They’ve now recovered about half of those positions, yet economist are expecting it will take about 2.5 more years to bring the rest back.

What’s happening in the job market right now?

Per every job opening, there’s close to two unemployed persons, according to data on labor market turnover for August from the Department of Labor.

That’s marked improvement from April, when there were 4.6 unemployed individuals for every job opening, and it’s below the financial crisis’ peak of 6.8 individuals. But it’s nowhere near pre-pandemic levels, when there were more jobs on the market than jobless individuals.

“You’re now going to have an influx of many workers seeking new jobs,” says Julia Pollak, labor economist at ZipRecruiter. “There will be highly experienced, highly trained people competing with new college graduates for the same jobs, crowding out less experienced workers and taking on lower pay itself. It’s going to be an incredibly competitive labor market.