A lot has changed in the last few months since COVID struck us. While countries across the globe have mandated lockdowns, it has severely impacted economic growth. About 10 million US workers have already lost jobs, and a similar trend seen across geographies. As per this UN labor agency report, half of the global workforce is at risk of job loss due to the pandemic. There’s also this eerie feeling that there could be more deaths due to lack of wages thus impacting livelihoods than the disease itself.
We delved into the data feeds generated via JobsPikr since March 2020, and compared that to the jobs posted during the pre-COVID era. Below are 5 key takeaways.
1- Number Of New Jobs Have Decimated:
During Jan 2020, around 7M new jobs created which only increased from Feb’20 to around 11M. This number has reduced by more than 90% to a mere 1.3 million during March as well as April. This was quite obvious since most companies currently are in survival mode, with frozen hirings and inevitable pay cuts/layoffs. We don’t know how many of those would see the light of day. As per a CII poll, 52% of firms expect job losses due to COVID. But of those that are indeed hiring, most of them are the ones who have seen an increase in demand viz healthcare, delivery and logistics, FMCG, and the like. We’ll leave this analysis for another post to dig further into the company profiles that are currently hiring.
2- Full-Time Jobs Saw A Sharper Drop Than Part-Time Or Contract:
Full-time jobs saw a sharper drop than part-time or contract jobs. This too seems logical since most companies are further optimizing their operational efficiencies in an attempt to increase cash flows.
It’s however interesting to note that full-time jobs still constitute the larger share of new jobs created, and there are slightly more contract jobs than part-time.
3- Healthcare Has Taken The Top Spot From Administrative Jobs Category:
A maximum number of jobs pre-COVID were Administrative, followed by Sales and Healthcare. But healthcare and nursing-related jobs have now taken a top spot in the post-COVID phase. Other runners up are Sales, probably because companies are pushing their salesforce harder (not sure if that could be the right strategy), IT, Manufacturing and Customer Service in that order. This order blatantly indicates that organizations had behaved like a sitting duck pre-COVID, but on a positive note have learned to adapt to the vulnerabilities being more open to investing in IT-related tools.
4- Novel Job Titles Have Emerged To The Top:
We were all abreast of the trending job titles related to Data Science and AI pre-COVID. But interestingly enough, since March’20, new job titles like “Housekeeper” (or “Help wanted”) have emerged in the top 10 list, which was not even among the top 50 earlier. Who more could one seek out for during these troubled times when we need to blend work into our homes while doing the chores. Other notable ones that moved upward were Caregiver, Nanny, and Delivery Agent. Jobs that seem to have taken a big hit are the developer titles i.e. Software Developer, Java Developer, Python Developer, and so on. Looks like operational efficiency is indeed the new norm. We expect newer titles to emerge as organizations re-equate their WFH policies and newer businesses follow.
5- US, UK, And Australia Continue To Lead With The Largest Share Of New Jobs:
Despite being heavily impacted by COVID with a huge number of cases and high mortality rates, both the United States and the United Kingdom continue to maintain their positions in generating the largest number of jobs worldwide. This is a reinforcement that these economies were better prepared to handle a setback of this scale, will better (and maybe faster) emerge from the ashes than the rest. It’s interesting though how positions have shifted following these top 3 economies. For instance, South Africa was one of the top 10 job creating nations pre-COVID but has now slid down to the 11th position. Whereas Singapore is a new entrant in the top 10 spots.
While the scale has changed substantially, individual mixes and positions seem to be largely retained post-COVID. Change in scale attributed to the uniqueness of the situation. Where unlike other recession periods, no authority is certain of a timeline of resurgence. Most organizations seem to be taking bite-sized steps. Quite expected when they are struggling to make ends meet with huge revenue losses and fixed costs that are difficult to let go of.
There are many examples of how inherently. Agile businesses have revisited their business models and turned fixed costs into variable costs. Multiple tales will emerge out of this trough we are all part of. Accompanied by a plethora of learnings, challenging how most businesses run. Our JobsPikr API offers a fully automated enterprise-grade job scraping tool. You can set up and ask for custom requirements using the API. And the data delivered in the desired format.