The American Reporter
Wednesday, December 6, 2023
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
The American Reporter
No Result
View All Result

Talent.com Sees Labor Market Recovering Despite Continued Pandemic

mm by Kyle Matthews
December 21, 2021
in Business
6 min read
Home Business

The pandemic continues to have lasting and irreversible effects on various aspects of life but the US labor market is, fortunately, showing signs of recovery. A recent data report from Talent.com, an online job posting platform with over 30 million jobs available in more than 75 countries, shines light on the US job market. From March to April 2020, the number of unemployed workers tripled, but fortunately that spike has continued to steadily decline. Unemployment in September 2021, however, was still up 40% from February 2020 before the pandemic started.

The Talent.com report includes data from the Job Openings and Labor Turnover Survey (JOLTS), the largest official survey on job recruitment, which shows a persistent increase in job openings and workers quitting their jobs yet a steady decline of unemployed workers, officially defined as individuals who receive government-assisted unemployment funds.

RELATED POSTS

The Art of Debt Financing: Alex Fopiano’s Insight into Treasury Management

Lear Capital Chairman Kevin DeMeritt Discusses the Energy Sector’s Surprising Influence on Physical Precious Metal Assets’ Value

At the start of the pandemic, the data report illustrates the changes being seen in the labor market due to lockdown policies, school closures, and the worry over the virus. These factors all created a fearful approach when it came to going into the office. Since then, vaccines have been released and restrictions have slowly but surely been lifted as well as more companies making the switch to remote work across the country.

While unemployment levels are not completely back to what they were pre-pandemic, there are definitely some insights showing the road to recovery for the US’s labor market. Despite a small decline in August, corresponding to the rebound of the covid-19 infection rate, the monthly number of job openings has increased by 47% over this period as the labor market begins to recover from tightness it experienced during the pandemic.

Reasons for the Tight Job Market During COVID-19 in Certain Markets

Certain labor markets were hit harder than others during the pandemic.

From recent data Talent.com collected discovered that the sector for low-skilled jobs experienced the largest increase in tightness.

Lucas Martinez, a co-founder of Talent.com, explains the reasons behind this crazy phenomenon saying, “The first reason is mechanical. Remember that economists define labor market tightness as the ratio of vacancies over unemployed workers. As mentioned above, low-skilled occupations took the biggest hit in March and April 2020.”

The job posting platform’s data highlights the number of unemployed workers skyrocketed in these occupations. This led to a huge decrease in labor market tightness. As the labor market is recovering toward its previous state, the tightness in these occupations is increasing more than in other labor markets.

Behavioral Insights

Before the pandemic, more job advertisements were posted for high-skilled jobs, which data from Talent.com shows is changing as employers across all sectors are in need of employees, but particularly across low-skilled labor opportunities. For the report, Talent.com divided occupations into four categories: professional, including highly educated white collar occupations; Sales/Admin/Social Services comprising middle-skill white collar occupations; Food Prep/Retail/Personal Care including lower-skill service occupations and Blue Collar, including construction, production and related jobs.

Findings from the JOLTS report align with the average number of clicks per ad on Talent.com. After a stagnation period during spring 2021, the trend for employees quitting their jobs and the number of clicks per ad on the job board site both skyrocketed. The number of employees who quit their jobs increased 17% from May to August 2021, and the number of clicks per job ad increased by more than 60% from May to September 2021. Numerous studies have shown that as the economy and labor market are recovering, workers are more actively seeking to change jobs to improve wages and working conditions.

Labor Market Predictions for 2022

As data has previously shown, the number of unemployed workers is steadily decreasing back to its original levels before the onset of COVID-19. Martinez believes the U.S could expect to see unemployment levels in 2022  be closer to what they were before the beginning of the crisis.

Nonetheless, the other dimensions of the labor market have experienced changes during COVID-19 that have impacted and changed traditional ways of work. The development of work-from-home is huge and could in turn help with the labor supply by allowing the recruitment of workers worldwide. However, overall the outcome of the year still depends on the evolution of the pandemic.

ShareTweetShare
Previous Post

Getting the Keys to Parenting with Katherine Winter-Sellery

Next Post

How to Combat Holiday Season Blues

mm

Kyle Matthews

The idea of The American Reporter landed this businesswoman to the digital avenue. Kyle brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, she also contributes her expertise in business niche.

Related Posts

The Art of Debt Financing: Alex Fopiano’s Insight into Treasury Management

The Art of Debt Financing: Alex Fopiano’s Insight into Treasury Management

by Richard Brown
December 4, 2023
0

Debt financing is a strategic financial approach wherein a company raises capital by borrowing funds from external sources, such as...

Josco Energy’s Tips On Saving Energy In Your Company

Lear Capital Chairman Kevin DeMeritt Discusses the Energy Sector’s Surprising Influence on Physical Precious Metal Assets’ Value

by Jennifer Ross
December 4, 2023
0

While investors often know factors like silver and platinum only existing in finite amounts can influence their prices, they may...

Revolutionizing Frozen Food: How Delivered Cold Connects Consumers with Quality Producers

Revolutionizing Frozen Food: How Delivered Cold Connects Consumers with Quality Producers

by Kyle Matthews
November 29, 2023
0

Sustainability has become a popular concept in many industries, and the cold storage and logistics space is no exception. With...

Unshackling Your Wealth: A Deep Dive into the Power of Alternative Investments with Dutch Mendenhall, Author of Money Shackles

Unshackling Your Wealth: A Deep Dive into the Power of Alternative Investments with Dutch Mendenhall, Author of Money Shackles

by Richard Brown
November 29, 2023
0

Financial expert Dutch Mendenhall’s book “Money Shackles: The Breakout Guide to Alternative Investing” begins with a provocative question: “Have you...

Rob Martinez: A Visionary in Parcel & LTL Shipping Optimization

Rob Martinez: A Visionary in Parcel & LTL Shipping Optimization

by Kyle Matthews
November 29, 2023
0

Rob Martinez, a prominent figure in the transportation and logistics industry, has made significant contributions through his role as the...

Next Post
How to Combat Holiday Season Blues

How to Combat Holiday Season Blues

Creating a legacy of his own in the entrepreneurial space – make way for Scott D. Clary

Creating a legacy of his own in the entrepreneurial space - make way for Scott D. Clary

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Texas Ethics Commission investigates Abrahim Javed

Texas Ethics Commission investigates Abrahim Javed

December 5, 2023

The Art of Debt Financing: Alex Fopiano’s Insight into Treasury Management

December 4, 2023

Lear Capital Chairman Kevin DeMeritt Discusses the Energy Sector’s Surprising Influence on Physical Precious Metal Assets’ Value

December 4, 2023

Definitive Betting Guide for College Bowl Season 2024

December 4, 2023

Game Changers: Technologies That Have Transformed Online Casino Gaming

December 3, 2023

Wearing a Tuxedo or Suit for a Wedding

December 3, 2023

Weekday Teacher, Weekend Pitmaster: How AI Ignited California Educator’s Blogging Hit

November 30, 2023

Digital Innovations: Changing the Way We Experience Entertainment

November 30, 2023

Dr. Candice Matthews Discusses Texas Politics and Her Fight To Shift The System

November 30, 2023

Could Vitamin B12 Shots Be the Key to Liver Health?

November 30, 2023

Revolutionizing Frozen Food: How Delivered Cold Connects Consumers with Quality Producers

November 29, 2023

Unshackling Your Wealth: A Deep Dive into the Power of Alternative Investments with Dutch Mendenhall, Author of Money Shackles

November 29, 2023
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

No Result
View All Result
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.