COVID-19
Legislative Limbo
& Job Growth
Millions of jobless Americans are in limbo as the weekly $600 enhanced unemployment benefit, provided in the CARES Act back in March, has expired with no formal continuation plan. Since the start of COVID-19, we have been analyzing labor market trends in real time, using our Talroo Insights data, and also surveying job seekers to see what they're looking for and how they are feeling.
As we settle into the “new normal” we are seeing fewer rapid swings, but more consistent patterns in who is searching for work, who is hiring, and how behavior varies from one city or region to the next.
In the news
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July 8th Another 1.4 million Americans applied for unemployment insurance for the first time, bringing the total to 42 million since the start of COVID. |
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July 9th Harley Davidson to cut 13% of global workforce. |
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July 12th Disney World reopens despite uptick in Florida COVID-19 cases. |
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July 13th At least 27 states have begun to shut down again or have begun to require face coverings outside. |
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July 15th American Airlines plans to furlough up to 25,000 workers this fall. |
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July 16th 30-year mortgage rate reaches lowest level ever at 2.98%. |
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July 26th Google extends work from home orders until July 2021. |
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July 26th The S&P is on track for its worst quarter of earnings growth since 2008. |
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July 27th Southwest vows to keep staff, announcing they will not lay off, furlough or cut pay or benefits for any of its employees this year. |
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July 29th Uber and Lyft drivers won a court victory in their quest to secure traditional unemployment benefits from NY state. |
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July 31st Enhanced unemployment benefits under CARES Act expire. |
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August 9th COVID cases in the US hit 5 million. |
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August 10th Democrats and Republicans are still negotiating an aid package, while Trump pushes executive orders. |
Job seeker survey results
We surveyed over 5k active job seekers in Talroo’s network through the month of July and found some interesting results.
How long have job seekers been
looking for work?
There was ample reporting that enhanced unemployment benefits were enough for people to do without work until the expiration on July 31st.
Are people willing to move
to a new city for better
work opportunities?
Nearly a quarter of
respondents (24%) said yes.
Would job seekers consider taking a job for less pay than their previous positions?
More than half (51%) of unemployed respondents would be willing to take a job for lower pay.
whether they had kids at home or not. It seems that opening safely is a concern to everyone regardless of their personal circumstance.
Of the people who were affected by childcare…
with young children are most heavily impacted in work/job availability, with 57% saying that they are moderately to highly impacted.
Industries with largest increases in job postings in July
+238%
Hospitality
Food Services
+117%
Warehouse
Logistics
+104%
Retail
+94%
Trucking
+76%
Home
Healthcare
vs. June 2020
Fastest-growing Cities
All eyes have been on some of the biggest states in the country, by population… California, Texas, Florida, and New York. We wanted to look into the economies of some of the fastest-growing cities instead, known for technology, lifestyle – and a price tag that’s slightly lower than New York City and San Francisco.
Here are the employers that are currently most active in hiring in Talroo’s network the week of Jul 25 - Jul 31:
Denver
- Amazon
- Shipt
- Uber Eats
- Dish Network
- Lyft
Las Vegas
- Uber Eats
- Pizza Hut
- Universal Health Services
- DoorDash
- Care in Homes
Seattle
- Amazon
- Uber Eats
- Amazon Web Services
- University of Washington
- Bristol-Meyers Squibb
Miami
- Baptist Health
- Jackson Memorial University of Miami
- School of Medicine
- Pizza Hut
- Uber Eats
Austin
Healthcare and home delivery are driving significant growth in these cities, which comes as no surprise as we settle into a new normal of managing COVID as best as possible. With people needing more essentials (and let’s face it, some days Pizza Hut is an essential) delivered to their home, and many people out of work are picking up flexible employment to make ends meet, a significant portion of the increase in the employment ecosystem are in the gig economy.
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For a deeper dive
Visit our previous infographics at talroo.com/resources
*** Source: Talroo’s Insights business intelligence tool sifted through 6 billion points of data including job postings and job seeker activity from March - June 2020. Insights also provides major and minor job classification data as well as geographic data from the national level to cities and zip codes.