COVID-19 and the Labor Market: Who’s Searching for Work and Who’s Hiring During the Crisis
As the global economy undergoes an unprecedented transformation due to the COVID-19 pandemic, the US job market changes weekly. Talroo’s business intelligence tool, Talroo Insights™, is tracking and measuring this activity in real-time, on two fronts: both on the job seeker side and the employer side. This 2-sided marketplace has enabled Talroo to analyze how one force affects the other, as well as which states and industries have suffered the most, how government aid has affected the market, and which industries have actually increased hiring. Read Talroo’s new infographic to see what Insights has uncovered.
“Some of what we’re seeing is expected, like job postings down in all 50 states, and some is a surprise,” said Talroo CEO Thad Price. “The CARES Act altered unemployment benefits in a way we’ve never seen, which directly affected job seeker supply. And on the state level, a lot of the changes depend on the economic makeup of each state. What’s true in California is definitely not true in Texas. It’s a challenging situation for employers and job seekers, but we’re seeing growth in the healthcare and warehouse industries, plus increased work-from home opportunities.”
The award-winning Insights tool was developed to give customers a portal into the labor market so they could optimize their recruiting strategies based on data. All data on the infographic is from Insights, unless otherwise noted. Insights identifies job seeker behavior trends, talent supply data, and competitive analysis by industry. This information helps clients understand where the talent is, so they can optimize budget efficiency, attract more relevant candidates, and ultimately hire better. It’s also a window into the labor market at large, and under current economic conditions, one day can mean big changes. Talroo will continue to report on new developments through Insights as the market evolves.
If you’re interested in learning more about how COVID-19 has impacted job seeker trends in your industry and your location, email us at solutions@talroo.com.
