Finally, May job postings pulled out of a seven-week nose dive. Weekly new job postings were, on average, up 134% from mid April, which was when new job postings (for now) officially bottomed out at 34% below the January/February average. By comparison, May’s new job postings by the third week were only 11% below the January/February average. So while there’s still a ways to go to match pre-COVID levels, May job postings were indeed on the rise.
In mid March, every major and minor US sporting event was canceled or postponed. This surreal move impacted approximately 1.3 million sports jobs in the US: furloughed, reduced, or erased. By mid June, sports occupations could also lose a total of $12.3B in earnings. That’s an average of $133.4 million in earnings every day, or $92.6K every minute.
COVID-19 and the great shutdown continue to impact job posting trends. As of the last week of April, new job postings had fallen 44% since January/February, based on the weekly average of new job postings. Compare April’s dismal numbers with those of March, when new job postings declined 32%. Will May see further decline, or an uptick?
COVID-19 and the great shutdown have gutted the US hospitality industry. With scant passengers rattling around inside empty airplanes, hotels abandoned, and thousands of weddings—usually considered recession-proof—postponed, hospitality is losing an average of $534 million in earnings and over 12,000 jobs every day.
Due to the COVID-19 shutdown of the economy, millions of workers have been displaced and will be forced to seek either temporary work outside their current field or entirely new types of work. And each one is wondering, what can I do now? To answer this, they need to be able to describe the skills they have that will transfer well to other jobs and how to add that critical information to their resumes and profiles. That’s why we created Resume Optimizer.
The COVID-19 crisis and ensuing economic shutdown are like a tsunami. Right now, we’re all trapped in our houses, but sooner or later the water will recede and we’ll be cleaning up a huge mess. How can you be ready? Let’s give people hope and prepare ourselves to make smart decisions for that time!