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Here’s What Candidates Expect Post-COVID-19

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In 2020, life as we know it was completely turned upside down. Everything we knew about our careers, hiring, and job searching changed on a dime. Now that things are finally stabilizing, we realize how much we’ve been permanently affected. The job market is picking back up and becoming increasingly competitive for highly qualified candidates. And these candidates come with some lofty post-COVID-19 expectations. Here’s how the Coronavirus has shifted candidate perspectives and changed their priorities.

Job Flexibility

Job flexibility is the number one thing candidates will be looking for in a post-COVID-19 workforce. In fact, according to a Workforce Confidence survey from LinkedIn, 50% of respondents say that flexibility of hours or location has become more important to them. This change is notable because as recently as 2017, flexibility wasn’t even on the candidate’s radar. The shift in 2020 showed workers and managers alike that work flexibility could be an asset rather than an obstacle. Because although people are working longer, more productive hours, they are simultaneously reporting higher happiness and productivity levels.

Work-Life Balance  

Tying in with job flexibility is a work-life balance. Generally, a more flexible work schedule and environment have allowed for a better work-life balance, so it makes sense that 45% of people will be prioritizing this in their job search. Over the past year, people have discovered the freedom of balancing their family and home life with work. We have proved that it is possible and that it contributes to a more productive workforce overall. However, this is not new information. A 2009 survey found that people who are happy with their work-life benefits work 21% harder and are 33% more likely to plan to stay at that organization. Therefore, in the post-Covid-19 job market, most employees expect this work-life balance to continue in the form of a hybrid work schedule.

Health Coverage  

It’s no surprise that a global pandemic has made people reconsider their medical benefits. Now, 41% of respondents list health coverage as important to them, whereas a few years ago, it didn’t even break the top five priorities of workers. Moving forward, companies can attract top candidates by offering competitive health coverage that puts employees’ needs first.

Pay  

One priority that stands the test of time is pay. Most recently, 36% of people cited pay as an essential job factor. A fair and competitive wage will always be crucial and should be a primary consideration for hiring managers. Even in a candidate-saturated market, it’s a guaranteed way to build a solid, loyal workforce.

Workforce Culture  

Workforce culture has been on the rise of candidate priorities over the last few years. However, due to recent diversity initiatives and the prioritization of an inclusive workforce, it has changed a lot recently. 36% of survey respondents listed it as necessary, but what does that mean? Where “culture fit” used to be cited in reference to excluding candidates, it has now pivoted to be inclusive. Candidates are looking for companies that prioritize building a diverse team that values all opinions and backgrounds. Additionally, companies that go above and beyond to bolster marginalized communities and professionals will garner the attention they deserve.

These post-Covid-19 perspectives are permanent

There is no arguing that the pandemic has changed the world as we know it. Priorities for companies and candidates are shifting, but for the better. As we work to establish our “new normal,” the workforce will look different as we continue experimenting and learning.

Are you interested in more workforce insights and hiring advice? Get a peek into our client resources here.

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November 2020 Jobs Report: 245,000 Jobs Added

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Job growth in November slowed in the U.S., according to the Labor Department’s monthly Jobs Report. Last month, employers added 245,000 jobs, a stark difference from October’s 610,000 jobs. On a more positive note, the unemployment rate continued to edge down to 6.7% from 6.9% in the month prior. Here is a brief overview of the November 2020 Jobs Report.

November Jobs Report Overview

November was the seventh month in a row of job gains after the coronavirus wreaked havoc in March. As of last month, the labor market has regained 12 million of the 22 million jobs lost at the beginning of the pandemic. Although encouraging to some, job growth has slowed over the past few months, and with new virus cases surging, the rebirth of the labor market may continue to decline.

“With COVID cases surging again and policies being put in place to try and slow the spread, hiring has slowed down. Also, worker availability is a significant limiting factor as well, with many unable to go to work due to COVID concerns or family care obligations.” — Thomas Simons and Aneta Markowska, economists at Jefferies.”

However, with several vaccines awaiting FDA emergency approval, there is light at the end of the tunnel as we head into the new year.

Job gains by industry

Last month, U.S. employers added 245,000 nonfarm payrolls. Noticeable job gains occurred in transportation and warehousing (+145,000), professional and business services (+60,000), healthcare (+46,000), leisure and hospitality (+31,000), construction (+27,000), manufacturing (+27,000), financial activities (+15,000), and wholesale trade (+10,000). A couple industries saw declines in employment, including government (-99,000) and retail trade (-35,000).

Revisions from the previous jobs report

The Labor Department reported that total nonfarm payroll employment gains have changed in previous months. In September, payrolls were revised up by 39,000, from +672,000 to +711,000, and in October, payrolls were revised down by 28,000, from +638,000 to +610,000. With revisions over the last two months combined, employment was 11,000 more than previously reported.

Need help filling critical roles before the end of the year?

There are only a few weeks left of 2020, and the talent market is getting tighter by the month. If your hiring team needs help sourcing the best talent on the market, reach out to us. At JSG, we can quickly fill those critical roles to help your team focus on all your other year-end activities. Give us a call today, and let’s work together.

October 2020 Jobs Report: 638,000 Jobs Added

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According to the Labor Department, U.S. employers added 638,000 jobs last month, much than economists projected. This is the sixth month in a row of job gains as the country continues to recover from the pandemic. The unemployment rate also dropped to 6.9%, a whole percentage point lower than September’s rate. The positive results of this month’s report are primarily thanks to the decline in the number of temporary layoffs and a boost in seasonal hiring. Here is an overview of the October 2020 Jobs Report.

October 2020 Jobs Report Overview

U.S. employers are on a six-month streak of adding nonfarm payrolls. And with a massive decline in government workers due to the conclusion of the 2020 census, the Labor Department would have reported over 900,000 nonfarm payroll gains. “The 638,000 rise in nonfarm payrolls in October is stronger than it looks as it included a 147,000 drop in temporary Census employment and, alongside the big fall in the unemployment rate, it suggests that the labor market recovery still has plenty of momentum,” Andrew Hunter, senior U.S. economist for Capital Economics.

This month’s gains are a shock to many economists as the number of positive coronavirus cases continues to surpass daily records. On November 5th, the U.S. reported almost 117,000 new coronavirus cases. And although we have made significant strides in our country’s recovery, there are still 11.1 million unemployed persons (down 1.5 million from last month).

Workers are returning on-site

A noticeable shift in the October Jobs Report was the number of remote workers returning on-site. 21.2% of employees last month worked remotely because of the virus. That is slightly down from September’s rate of 22.7%. This trend will be interesting to watch going forward as the number of positive cases continues to climb. Regardless of this slight decline, millions of people are still working remotely, and hiring managers will have to continue to change their processes to attract them.

Job gains by industry

Last month, U.S. employers added 638,000 nonfarm payrolls. Noticeable job gains occurred in leisure and hospitality (+271,000), professional and business services (+208,000), retail trade (+104,000), construction (+84,000), healthcare and social assistance (+79,000), transportation and warehousing (+63,000), manufacturing (+38,000), financial activities (+31,000), and other services (+47,000). Employment in government fell by 268,000, mostly due to the loss of 147,000 2020 Census workers.

Revision from the previous jobs report

The Labor Department reported that total nonfarm payroll employment gains have increased in previous months. In August, payrolls were revised up by 4,000, from +1,489,000 to +1,493,000, and in September, payrolls were revised up by 11,000, from +661,000 to +672,000. With revisions over the last two months combined, employment was 15,000 more than previously reported.

Find the talent you need before year’s end

We have less than two months left of 2020 (thankfully); it’s time to start thinking about your hiring needs going into the new year. There are millions of talented workers on the market, and you don’t want to wait to scoop them up, or you will miss out. If your hiring team needs assistance navigating this challenging, ever-changing labor market, reach out to us today. We are here to help you start the new year off on the right foot.

September 2020 Jobs Report: the U.S. Gains 661,000 Payrolls

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The Labor Department reported that nonfarm payrolls rose by 661,000. That is the fewest gains since May and much lower than economists’ expectations of around 850,000 payrolls. Regardless of expectations, the unemployment rate continued to decline from 8.4% to 7.9%. Although slower than predicted, the U.S. economy is still on the path of recovery, even as COVID-19 cases continue to surge. Here is an overview of the September 2020 Jobs Report.

September Jobs Report overview

Despite all odds, employers around the nation are continuing to add jobs, although at a slower rate in the last three months. Hiring started to cool in July, with the growth of nearly 2 million positions. There are still roughly 10.7 million Americans out of work than before the pandemic hit in February. However, we have made huge strides over the last seven months when employment fell by more than 22 million, and the unemployment rate hit an all-time high of 14.7%. Fast forward to today, the unemployment rate is sitting at 7.9%, and has been consistently declining since April. Moreover, the number of unemployed Americans declined by 1.0 million to 12.6 million unemployed persons.

The labor force participation rate slightly declined by 0.3%, to 61.4%, which is 2% lower than it was back in February. Additionally, average hourly earnings bumped up 4.8%, to $29.47.

The impact of the coronavirus

As the country continues its battle with the coronavirus, the labor market outlook is a little precarious, despite consistent growth over the summer. Last month, the U.S. surpassed 200,000 deaths from the coronavirus pandemic, and this morning, it was confirmed President Trump tested positive for the virus. This is the final jobs report before the November election. Hopefully, our battle with the virus continues to trend in the right direction, and more employers can create jobs.

Job gains by industry

The industries with the largest employment growth are leisure and hospitality (+318,000), retail trade (+142,000), healthcare and social assistance (+108,000), professional and business services (+89,000), transportation and warehousing (+74,000), manufacturing (+66,000), financial activities (+37,000), information (+27,000), construction (+27,000), wholesale trade (+19,000), and mining (+1,000). Government payroll declined by 216,000 and private education fell by 69,000.

Revisions from the previous jobs report

Over the last two months, total nonfarm payroll employment gains were revised. In July, payrolls were revised up by 27,000, from +1,734,000 to +1,761,000, and in August, payrolls were revised up by 118,000, from +1,371,000 to 1,489,000. With revisions over the last two months combined, employment was 145,000 more than previously reported.

Are you ready to harvest more jobs this fall?

More employers are gaining confidence in the labor market and jumpstarting their hiring efforts. Plus, seasonal hiring is about to be kicked into high gear as employers will go on a hiring spree to keep up with seasonal demand this fall. If your team is ready to revive your hiring efforts, JSG is here to help. We have a solid grasp on the market and a strong pipeline of candidates that are ready to work. Reach out to us today, and let’s work together to fill your job vacancies.

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Jobs with the Most Demand in September

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As the economy and job market continue to recover, jobless claims are finally declining. Last week (ending September 11th), new jobless claims fell by 33,000 to 860,000. Employers have replaced nearly half of the 22 million jobs lost this spring due to the pandemic. However, some industries are rebounding faster than others, resulting in robust demand for numerous positions. Here are the jobs with the most demand in September.

Industries with the most growth

Retail, accounting, and cloud computing are three of the industries with the largest month-over-month growth. According to LinkedIn, retail positions make up five of the top ten fastest-growing jobs, from August to September. The demand for retail associates (+790%), service associates (+190%), sales advisors (+150%), retail specialists (+140%), and sales specialists (+140%) are all in high demand right now. Many stores and brands are on a hiring spree right now to accommodate the new waves of customers generated by the pandemic.

The demand for tax associates is up 600%, as many organizations are preparing for a messy and confusing post-COVID tax season. And cloud engineers are up 220% as companies expand their work from home capabilities.

The most in-demand jobs in September

Below are the jobs that are currently in high demand:

 

jobs with the most demand in September

As you can see, salespersons and software engineers are the jobs with the highest demand. These positions were already in strong demand, and the pandemic hasn’t changed that one bit, especially since these professionals can more readily work remotely. Also, RNs, cashiers, and other essential workers are still in high demand, and probably will continue to top the charts throughout 2020. Tax associates made a massive jump in August (up 69 spots) as companies and individuals prepare their taxes in this tough economy.

Do you need help securing a new opportunity?

If you are currently on the job market, it can be a little daunting. The market is competitive, and companies are now in the driver’s seat. We have gathered a fantastic group of resources for job seekers across the U.S. and Canada. Check out our blog for interview advice, job searching tips, and resume pointers. If you are ready to take the plunge into your next opportunity, we have hundreds of attractive jobs available. Review or job board today, and let’s work together.

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August 2020 Jobs Report: 1.37 Million Jobs Added

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For the fourth month in a row, the U.S. economy experienced a growth in jobs and a decline in the unemployment rate. In August, the Department of Labor reported job gains of 1.37 million with an unemployment rate of 8.4%. Although fewer payrolls than reported in previous months, August’s job gains are a strong indication that the country is making a steady recovery from the pandemic.

August 2020 Jobs Report Overview

The U.S. economy added more jobs than expected last month, a common occurrence throughout the last few months. Surveyed economists from the Dow Jones anticipated growth of only 1.32 million and an unemployment rate of 9.8%. In contrast, the Labor Department announced last week a slightly better than expected 1.37 million jobs and a jobless rate of 8.4% (from 10.2% last month). However, that’s a sharp decline from June’s 4.8 million jobs added and July’s 1.8 million.

Nonetheless, August was the lowest unemployment rate since the beginning of the COVID-19 pandemic, which peaked at nearly 15%. The number of unemployed persons fell by 2.8 million to a total of 13.6 million. Although still notably high, the unemployment rate has been steadily decreasing for four consecutive months. Additionally, temporary layoffs declined by 3.1 million last month to a total of 6.2 million. That is a sharp reduction from April’s 18.1 million layoffs. As you can see, more Americans are finally returning to work as employers are able to bring back some of their staff.

Where are the jobs at?

The industries with the largest employment growth are government (+344,00), retail trade (+249,000), professional and business services (+197,000), leisure and hospitality (+174,000), education and health services (+147,000), transportation and warehousing (+78,000), financial activities (+36,000), manufacturing (+29,000), and wholesale trade (+14,000). Employment in mining, construction, and information changed little over the month.

Revisions from the previous jobs reports

Over the last two months, total nonfarm payroll employment gains were revised. In June, payroll employment declined by 10,000, from +4,791,000 to +4,781,000. In July, payroll gains were also revised down by 29,000, from +1,763,000 to +1,734,000. With revisions over the last two months combined, employment was 39,000 less than previously reported.

Are you ready to restart your hiring efforts?

As the healing process continues, more hiring managers and employers are gaining confidence in restarting their efforts. If you are actively searching for new talent or preparing to activate your hiring strategy, reach out to a recruiter from JSG. We are here to help you navigate this challenging labor market with ease. And if you are a job seeker, we are ready to help you find your next opportunity today. Let’s work together to find you your next role.

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July 2020 Jobs Report: Three-Straight Months of Job Gains

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For the third month in a row, the U.S. economy experienced a growth in jobs despite a spike in COVID-19 cases across many regions of the country. According to the Department of Labor, nonfarm payrolls increased by an additional 1.8 million jobs in July. That’s slightly better than the 1.5 million job gains predicted by economists. As a result of this uptick, the unemployment rate dropped to 10.2% from 11.1% the previous month. Although these numbers are inching closer to pre-pandemic growth, the labor market’s growth is decelerating from last month’s 4.8 million job gains in June.

July 2020 Jobs Report Overview

The addition of 1.8 million jobs is a steep decline from the shocking gain of 4.8 million jobs last month, the most significant single-month increase in U.S. history. However, despite surges in coronavirus cases, the U.S. economy is still adding jobs as many businesses slowly begin to open their doors. “The labor market continues to heal, which is encouraging, but there is a long road ahead,” said Michelle Meyer, head of U.S. economics at Bank of America.

Although improving at a slower rate, these numbers are surprising to many economists as unemployment claims are still trickling in. In the week ending on August 1, adjusted initial unemployment claims reached 1.18 million. As COVID-19 cases continue to soar, it will be interesting to see how this number fluctuates. Some states (such as Texas, Florida, Arizona, and California) may see this number increase, while others will decline as other states relax restrictions.

Additionally, the unemployment rate fell 0.9%, from 11.1% to 10.2%. This decline is a great indication that America is continuing to heal. However, the unemployment rate remains above the Great Recession high of 10% that was reached in October 2009. The labor force participation rate was 61.4%, virtually unchanged from the previous month. But on the brighter side, the average hourly earnings rose by $0.07 to $29.39, a nice surprise for many economists.

Where are the job gains?

Significant employment increases occurred in leisure and hospitality (+592,000), government (+301,000), retail trade (+258,000), professional and business services (+170,000), healthcare (+126,000), social assistance (+66,000), transportation and warehousing (+38,000), manufacturing (+26,000), financial activities (+21,000), and construction (+20,000). All other services industry added 149,000 jobs and mining again saw a decline of jobs (-7,000).

Revisions from previous months

Over the last two months, total nonfarm payroll employment gains were revised. In May, payroll employment increased by 26,000, from +2,699,000 to +2,725,000. In June, payroll gains were revised slightly down by 9,000, from +4,800,000 to +4,791,000. With revision over the last two months combined, employment was 17,000 higher than previously reported.

Get some hiring help in this volatile market

It’s evident from the July 2020 Jobs Report that the economy is still recovering. And as the market continues to heal, employers are starting to gain confidence in their hiring efforts. If you are ready to begin filling your vacant positions, reach out to a recruiter from JSG. We are ready to help you source the talent you need to get production levels back on track. Contact us today, and let’s work together to design a hiring strategy that works for you.

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June 2020 Jobs Report: A Spark of Light in the Labor Market

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Despite recent spikes in COVID-19 cases, the U.S. labor market exemplified signs of recovery in the June 2020 Jobs Report. Last month, non-farm payrolls added 4.8 million jobs in June, much higher than the +2.9 million expected by economists. As a result, the unemployment rate dropped to 11.1%, which is also better than the predicted rate of 12.4%. Overall, we still have a long way to go before we return to our pre-pandemic state, but we have seen a spark of light in the U.S. labor market for two consecutive months.

June 2020 Jobs Report Overview

The addition of 4.8 million jobs is a massive jump from May’s gain of 2.7 million jobs, marking the most significant single-month increase in U.S. history. “The 4.8 million rise in non-farm payrolls in June provides further confirmation that the initial economic rebound has been far faster than we and most others anticipated,” said Michael Pearce, senior U.S. economist at Capital Economics.

These numbers are a little surprising since jobless claims keep rolling in each week. In another report released by the Department of Labor, U.S. unemployment claims clocked in at 1.427 million. However, this contrast is partly because not every unemployed American is returning to work, even after states and counties continue to open. Thus, many of the 4.8 million jobs are new jobs that have been created over the last month.

The unemployment rate declined by 2.2%, from 13.3% in May to 11.1% last month. The labor force participation rate also saw a nice bump to 61.5%, another strong indication that we are well on our way to recovery. Additionally, the number of temporary layoffs in June fell by 4.8 million to a total of 10.6 million, following last month’s trend.

Where are the job gains at?

Significant employment increases occurred in leisure and hospitality (+2.1 million), retail trade (+740,000), education and health services (+568,000), manufacturing (+356,000), professional and business services (+306,000), construction (+158,000), transportation and warehousing (+99,000), wholesale trade (+68,000), financial activities (+32,000), and government (+33,000). Unfortunately, the mining industry continued to lose jobs (-10,000). Employment in all other services industries increased by +357,000.

Revisions from previous months

Over the last couple of months, non-farm payroll employment was revised. In April, employment was declined by 100,000 from -20.7 million to -20.8 million. However, May’s employment levels saw a positive change of +190,000 from +2.5 million to +2.7 million. With these revisions, employment in April and May combined was +90,000 higher than previously reported.

Employers are hiring again

The last two job reports illustrate that the country is beginning to recover. We are far from our pre-pandemic job gain levels and historic-low unemployment rates, but we are making progress. These numbers show the resiliency of our country and employers across the country. If you are currently on the job market, we have hundreds of opportunities with employers that need talent like you. Check out our job board and find the next step in your career today.

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May 2020 Jobs Report: The Job Market Starts to Rebound

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Defying all odds and expert predictions, the unemployment rate fell to 13.3% last month, according to the Bureau of Labor Statistics. Nonfarm payrolls also rose by an unprecedented 2.5 million jobs in May. These results shatter economists’ predictions of hitting a record-high unemployment rate of 19.5% and a decline of 8.3 million jobs. If these predictions came to fruition, we would be in the largest state of decline since the Great Depression.

Although not close to its pre-pandemic state, the job market is recovering as people thankfully return to work. Here is a brief breakdown of the May 2020 Jobs Report.

May 2020 Jobs Report Overview

Last month, the unemployment rate was at 14.7% with a massive decline of 20.5 million jobs; numbers we haven’t seen in decades. Fast forward to May, and despite the impact of the Coronavirus, we’ve taken a massive leap in the right direction. The fact that economists predicted a loss of 8.3 million jobs and we gained 2.5 million shows that the U.S. is well on it’s way to recovery.

“It seems the damage from the nationwide lockdown was not as severe or as lasting as we feared a month ago,” said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

This report is shocking to most as another 1.9 million unemployment claims were reported yesterday, totaling nearly 43 million unemployment claims. This drastic increase in jobs despite record-breaking unemployment gains “suggests that the U.S. economy is more resilient than expected,” said Seema Shah, chief strategist at Principal Global Investors.

Where were the job gains?

Significant employment increases occurred in leisure and hospitality (+1.2 million), construction (+464,000), education and health services (+424,000), and retail trade (+368,000). Government employment continued to decline last month (-585,000). Manufacturing also saw a gain of +225,000 jobs, and so did professional & business services with +127,000 jobs.

Revisions from previous months

Total nonfarm employment was revised in both March and April. In March, payrolls were revised down from -881,000 to -1.4 million. And in April, payrolls declined from -20.5 to -20.7 million. With these revisions, combined employment in March and April was 642,000 lower than previously reported. After these revisions, we have averaged a monthly loss of 6.5 million jobs per month over the past three months.

Employers are still hiring

Overall, May’s Jobs Report is truly great news as we continue to recover from this global pandemic. However, we still have a long way to go and must be patient. But employers are beginning to bring workers back and hire new staff members. If you’re currently looking for a new job, Johnson Service Group is here to help. Check out our job board to find your next opportunity!

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April 2020 Jobs Report: Jobs Fall by 20.5 Million

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In April, another 20.5 million jobs were lost because of the COVID-19 pandemic. This decline is the biggest loss since the Great Depression and a massive leap from March’s loss of 870,000 jobs. This surge in job losses comes as no surprise as more than 33 million Americans have filed for unemployment claims since the end of March. The unemployment rate also ticked up 10.3%, for a total unemployment rate of 14.7% in March. This unemployment rate is the largest month-to-month increase since the BLS started tracking these statistics. Here is a brief overview of the April Jobs Report.

April 2020 Jobs Report Summary

These job losses are over double the losses recorded during the 2008 financial crises and the steepest decline since the government began recording this data in 1939. After the 2008 Financial Crises, the U.S. added 22.8 million jobs in a decade, but sadly, the Coronavirus has wiped out (at least temporarily) a decade’s worth of gains.

The industries hit the hardest last month was Leisure and Hospitality (7.7 million), Education and Health Services (2.5 million), Professional and Business Services (2.1 million), Retail Trade (2.1 million), Manufacturing (1.3 million), Government (980,000), and Construction (975,000).

Despite all of the job losses, average hourly earnings increased by $1.34, to $30.01 an hour. This increase is the result of essential workers earning hazard pay and lower-paid workers, unfortunately, losing their jobs.

Job Gain Revisions

In both February and March, total nonfarm payroll employment was revised down. In February, job gains revised down from +275,000 to +230,000, and in March, job losses revised from -701,000 to -870,000. These combined changes were 214,000 jobs lower than previously reported.

Light at the end of the tunnel

There is no disputing the stark outlook based on statistics from the BLS over the last three months. However, on a more positive note, we should hopefully start seeing a comeback in several states. In fact, 19 states are now only in a partial lockdown and are beginning to reopen. In states like these, thousands of Americans will thankfully get back to work and return to a little normalcy. Some of the businesses that have been hit hardest, such as restaurants, dental offices, and construction, can open back up. That is a significant step in the right direction for our country.

The curves are starting to flatten in many states; it finally feels like there is light at the end of the tunnel. We are all in this together and must continue to be patient. We will overcome this and come out stronger and more united as a nation.