Today’s global economic instability has reshaped the job market overnight. As we at Asurea move forward with our expansion and hiring plans, we recognize how crucial it is to understand the multitude of ways the ever-changing economy affects players in the job market. Here, we break down the data in Jobvite’s 2020 Job Seeker Nation Report to learn not only what’s taking place, but also how it affects job seekers, businesses, and the job market as a whole.
Report Adapts to Seizmic Employment Shifts
Never before in its 10 year history has the report so adapted to the changing employment environment. In February, 2020, the organization surveyed 1,514 employers and job applicants. But in just two months so much had changed due to COVID19 and its fallout, that they restarted the process to find out changes to participants’ earlier insights, and their interpretation of the pandemic’s effects on the job market. The contrasts were breathtaking.
Whereas in February, job seekers held all the cards, by April the recruiting and employment market had been shattered by an economy upended. Everything has changed - for job applicants as well as employers. All around, instability is the current norm.
Shift to Job Scarcity Started BEFORE the Pandemic
The study reveals that job scarcity was percieved BEFORE the Pandemic took hold. In February, 48% of job seekers reported that job placement was harder than in the prior year, and 23% described it as “much harder.” In April they increased to 73% and 44% respectively. Predictably, fear of job loss soared to 54% by April. But further indicating that the downturn began before the Pandemic took hold, in February 30% of workers feared job loss.
Multiple Channels Used by Successful Job Seekers
Those fortunate enough to find jobs attributed their success to a variety of channels. Successful methods this breakdown:
69% - Online Job Boards
45% - Friends
42% - Social Media (such as LinkedIn)
31% - Professional Connections
As the Pandemic unpredictably alters the nation’s employment landscape, Asurea offers useful information for your toolbox. We’re committed to our expansion plans, and that means we’re hiring nation-wide. Contact us and come join our team. Together, we’ll get through this.
Asurea; careers with purpose.