>>By the Numbers: May 8, 2020

By the Numbers: May 8, 2020

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3.17 Million New Jobless Claims

The Numbers:

  • 17 million Americans filed jobless claims in the week ending May 2
  • This adds to the 30 million people who have previously applied for unemployment benefits since COVID-19 significantly hit the U.S. in March
  • Source: Department of Labor

Majority of Employers Still Formulating Return-to-Work Plan

The Numbers:

  • 56% of employer are starting to work on their return-to-work plan
  • 26% already have a return-to-work strategy
  • 18% do not have a return-to-work strategy
  • Source: Blank Rome

Shift to Remote Work Expands Tech Talent Access

The Numbers:

  • Only 5% of tech workers are now less interested in a remote position
  • 43% of professionals in tech are actively searching for new job opportunities due to the recession
  • 68% of businesses are reporting active hiring
  • Source: Hired’s State of Remote Work 2020

Internship Offers on the Decline

The Numbers:

  • Internship offerings are down, and those in travel and tourism were ‘severely’ impacted by the pandemic
  • There has been a larger decrease in internship postings than job opportunities since March 9
  • Internship postings saw a 52% decline over the past month while job postings saw a 20.5% decline
  • Source: Glassdoor

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

20 Million Jobs in U.S. Lost in April

The Numbers:

  • Private-sector employment fell by 20.2 million jobs in April compared to March, though this data is only through April 12
  • “Job losses of this scale are unprecedented,” said Ahu Yildirmaz, co-head of the ADP Research Institute. “The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession.”

Use of Contingent Workers Increases

The Numbers:

  • An increased use of contingent workers was one of nine human resources trends impacting the future of work post-COVID
  • 32% of companies are replacing full-time employees with contingent workers as a cost-saving measure
  • Source: Gartner Inc.

A Third of U.S. Employers Continue Lay Offs

The Numbers:

  • A third of U.S. employers are still laying off workers and may continue to do so
  • 52% of U.S. employers have changed employee hours, laid off, or furloughed workers
  • 64% of salaried and 49% of hourly employees now work from home, compared to 3% and 2% in January
  • Source: Society for Human Resource Management and Oxford Economics

Most Employed American Workers Would Leave Job if Not Enough COVID Protection

The Numbers:

  • 62% of employed Americans would ‘consider changing jobs during the COVID-19 crisis if they felt their current company was not doing enough to protect them’
  • 69% of younger employees aged 44 and under were more likely to change jobs
  • 52% of those aged 45 and older would do the same
  • Source: Yoh

Most Firms Using Virtual Technology Even with Slowed Hiring

The Numbers:

  • 86% of companies are leveraging virtual technology to interview candidates amidst the COVID-19 crisis
  • However, 82% of companies forecast a decrease in hiring over the next three months
  • Source: Gartner Inc.

Gen Z Workers Hit Hard by Layoffs

The Numbers:

  • Workers under the age of 25 have seen a 93% higher rate of layoffs than those 35 and older
  • The tourism industry had the most layoffs, with 33% impacting those between the ages of 16 and 19
  • Source: Gusto

Amidst Hiring Slowdowns, Some Industries See a Bright Spot

The Numbers:

  • Pandemic-hit industries such as travel, real estate, energy and retail drove a U.S. hiring slump of 23.9% in April
  • The hardware and networking industry saw an increase of 2.3%, a bright spot among severe slowdowns
  • Source: LinkedIn
By |2020-05-07T19:41:35+00:00May 8th, 2020|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: May 8, 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.