Much has changed in the past few months since COVID hit us. While countries around the world have imposed closures, this has seriously affected economic growth. About 10 million American workers have already lost their jobs and a similar trend has been observed in all regions. According to this report from the United Nations labor agency, half of the world’s workforce is at risk of losing their jobs due to the pandemic. There is also this strange feeling that there could be more deaths due to the lack of wages thus affecting livelihoods than the disease itself.
We explored the data flows generated via JobsPikr since March 2020, and compared to jobs posted during the pre-COVID period. Below are 5 key points to remember.
1- The number of new jobs has decimated:
In January 2020, around 7 million new jobs were created, which only increased from February 20 to around 11 million. This number decreased by over 90% to just 1.3 million in March and April. This was pretty obvious as most companies are currently in survival mode, with frozen hires and inevitable reductions / layoffs. We don’t know how many of them would see the light of day. According to a CII survey, 52% of companies plan to cut jobs due to COVID. But among those who do recruit, most of them are those who have seen an increase in demand, namely healthcare, delivery and logistics, consumer products, etc. We will leave this analysis to another post to deepen the company profiles that are currently recruiting.
2- Full-time jobs fell more sharply than part-time or contract work:
Full-time jobs fell more sharply than part-time or contract jobs. It also seems logical since most companies further optimize their operational efficiency in order to increase cash flow.
It is interesting to note, however, that full-time jobs still account for the largest share of the new jobs created and that there are slightly more contract jobs than part-time jobs.
3- Health care took first place in the administrative job category:
A maximum number of pre-COVID jobs were administrative, followed by sales and healthcare. But jobs related to health care and nursing have now taken pride of place in the post-COVID phase. The other finalists are sales, probably because companies are pushing their sales force harder (I don’t know if that might be the right strategy), IT, manufacturing, and customer service in that order. This order blatantly indicates that organizations behaved like pre-COVID sitting ducks, but on a positive note learned to adapt to vulnerabilities by being more open to investing in IT tools.
4- New job titles have appeared at the top:
We were all aware of the trendy job titles related to data science and pre-COVID AI. But it is interesting to note that since March 20, new job titles such as “Domestic help” (or “Help wanted”) appeared in the top 10, which was not even in the top 50 before. Who more could we look for in these troubled times when we have to integrate work into our homes while doing chores. Other notable people who have made progress include the caregiver, the nanny and the delivery agent. Jobs that seem to have been very successful are developer titles, i.e. software developer, Java developer, Python developer, etc. It seems that operational efficiency is indeed the new standard. We expect new titles to emerge as organizations rebalance their WFH policies and as new companies follow.
5- The United States, the United Kingdom and Australia continue to dominate with the largest share of new jobs:
Although they are heavily affected by COVID with a large number of cases and high mortality rates, the United States and the United Kingdom continue to maintain their position in generating the largest number of jobs in the world. This is a reinforcement of the fact that these economies were better prepared to manage a setback of this magnitude, will come out better (and perhaps faster) from the ashes than the others. It is however interesting to see how the positions have changed following these three main economies. For example, South Africa was one of the top 10 job-creating countries before COVID, but has now moved to 11th position. While Singapore is a new entrant in the top 10.
Although the scale has changed considerably, individual combinations and positions appear to be largely retained after COVID. Change of scale attributed to the uniqueness of the situation. Unlike other periods of recession, no authority is certain of a resurgence calendar. Most organizations seem to be taking small steps. Highly anticipated when they are struggling to make ends meet with huge revenue losses and hard costs that are hard to let go.
There are many examples intrinsically. Agile companies have revised their business models and transformed fixed costs into variable costs. Many stories will emerge from this trough of which we are all a part. Accompanied by a plethora of learning, calling into question the operation of most companies. Our JobsPikr The API offers a fully automated enterprise-level job scraping tool. You can configure and request custom requirements using the API. And the data delivered in the desired format.