>>By the Numbers April 17, 2020

By the Numbers April 17, 2020

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CEO Turnover Down During COVID-19

The Numbers:

  • For the second month in a row in March, CEO turnover fell
  • 94 CEOs left their posts in March
  • This was a 27% decrease from February and 30% from this time last year
  • While monthly totals fell, 441 CEOs left their posts in Q1 which is the second-highest quarterly total recorded since 2008
  • Source: Challenger, Gray & Christmas

Small Businesses Concerned about Closures

The Numbers:

  • One in four businesses (24%) have temporarily shut down
  • 40% of those still open for business said they will ‘most likely close temporarily in the next two weeks’
  • 43% stated that a permanent shutdown is unavoidable
  • Source: MetLife & U.S. Chamber of Commerce Small Business Index

Locum Tenens Staffing for Healthcare on the Rise

The Numbers:

  • Locum tenens staffing – the placement of temporary doctors – has a projected increase in revenue in 2020 of 5%
  • Source: SIA

BountyJobs Reports: Special Platform Access for COVID-19 Essential Roles

The Numbers:

  • For companies on the frontline fighting the COVID-19 outbreak, filling critical open roles is more important now than ever before. BountyJobs is committed to helping you get the people you need, fast. We are offering you no cost access to our recruitment marketplace to help you do it.
  • We have collected special offers from our partners to assist those in talent acquisition to make progress in filling essential roles related to COVID-19

Almost 25% of CFOs Expect More Layoffs

The Numbers:

  • Nearly a quarter of CFOs forecast more layoffs over the next month
  • 41% forecast temporary employee furloughs
  • 22% of CFOs believe their business will be back to usual in less than a month if COVID-19 were to end today
  • Source: PwC

Amazon to Hire an Additional 75K Workers

The Numbers:

  • Amazon.com is to hire 75,000 more workers at its warehouses
  • This is in addition to the 100,000 full and part-time workers it has already hired, announced March 16
  • The company plans on paying more than $500 million globally to increase warehouse worker pay amidst COVID-19
  • Source: Amazon

Almost a 90% Increase in Remote Jobs Searches

The Numbers:

  • Job searches for ‘remote’ between March 8 and March 29 increased 89%
  • This term jumped to the number 7 slot when it hadn’t even placed in the top 30 before that March timeframe
  • Source: Monster

Economic Forecasts See Biggest Covid-19 Impact in Q2

The Numbers:

  • Growth is projected in the second half of 2020 after a recession impacting the first half
  • The U.S. is projected to lose 4.58 million jobs
  • The U.S. unemployment rate may peak at 13% in Q4
  • Source: NABE

IT Jobs Expected to Have Further Losses

The Numbers:

  • IT employment decreased slightly by .03% in March to about 5.35 million jobs, but job losses are expected to continue
  • “Despite the modest decline in the March IT Index, I fully anticipate we will see far more significant declines reflected in the coming months,” TechServe Alliance CEO Mark Roberts said. “While IT is likely to fare better than most other sectors, the sweeping nature of the economic decline will be felt broadly.”
  • Source: TechServe Alliance

COVID-19 Impacts Various Industries Differently

The Numbers:

  • Those that work in public administration and the legal industry are feeling the most secure to hold or find a job currently
  • People in the recreation and travel industries are feeling less certain. Those in design and media/communications are also less than optimistic.
  • Workers in entertainment, consumer goods, and retail feel things will improve over the next six months
  • Source: LinkedIn

Fewer Jobless Claims But Still Dramatically High

The Numbers:

  • S. initial unemployment claims were down by almost 1.4 million week ending April 11
  • 2 million claims compared to the revised number of 6.6 million initial jobless claims week ended April 4
  • Source: U.S. Department of Labor

Amazon Planning to Test All Employees for COVID-19

The Numbers:

  • Amazon may soon test all its employees for COVID-19
  • “We’ve begun the work of building incremental testing capacity,” Bezos wrote. “A team of Amazonians — from research scientists and program managers to procurement specialists and software engineers — moved from their normal day jobs onto a dedicated team to work on this initiative.”
  • Source: Amazon

U.S. Job Openings Down 20.5%

The Numbers:

  • Job openings on Glassdoor were down 20.5% on April 6 in comparison to March 9
  • The number of job openings on Glassdoor totaled 4.8 million as of April 6, the lowest level since February 2017
  • Source: Glassdoor
By |2020-04-16T19:48:59+00:00April 17th, 2020|Categories: Talent Acquisition Trends|Comments Off on By the Numbers April 17, 2020

About the Author:

Erin Geiger is a seasoned Content, Editorial, and Product Engagement professional with two decades of experience creating content as well as overall content direction and strategy. Her background stems from a variety of online verticals ranging from start-ups to Fortune 500 corporations.