The Job Market Change - How Coronavirus Drives Demand for Specific Jobs
Updated: Jul 14, 2020
The coronavirus has affected every area of the job market in a dramatic way and hiring needs have dropped to a new low. Almost half of people are suffering due to losing their jobs as a result of the virus. Whilst it poses a threat to 39 million jobs in Europe alone. We are likely to see the highest rate of unemployment, reaching 32% is the US and doubling across Europe. The virus has also had an effect on salaries, with most being cut (see our whitepaper on the effects of Coronavirus on the job market here).
However, in some areas of the job market coronavirus has led to an increase in hiring needs.
There have been a number of other roles that have risen in demand in response to the virus. Some less expected than others.
Hiring Needs Change Due to the Coronavirus
Health Care and Frontline Workers
Health care workers, as expected, are the most in demand right now. LinkedIn has identified a surge of demand for frontline workers and those supporting healthcare. Whilst many countries are even calling retired health workers to return to work. Some countries have also been asking undergraduates to start before they would normally be expected to.
Companies from every corner of the job sector are now moving towards digital platforms and working remotely (read how to guarantee effective communication in remote work here). The new home office scenario has led to a rise in demand for remote jobs. This isn't surprising as companies that are well adapted to remote work won't feel the brunt of the crisis as much. Remote jobs can include anything from recruiters, content writers, web developers and more. How adaptable companies are to remote work varies significantly on the industry.
“Tech companies are still hiring feverishly as they move to take advantage of a world shifting increasingly to digital as a result of the coronavirus, despite mass lay-offs elsewhere and growing concerns over plummeting global markets.” - Financial Times
It is not surprising when looking at the above graph that tech companies report being more well equipped for remote work than any other industry.
As a result the tech companies are one of the strongest in the job market in the current crisis. Zoom, a video conferencing company currently has around 200 jobs open as schools and other industries now turn to the company to allow for meetings and ‘face to face’ time.
Other tech giants such as Google, Apple and Microsoft also continue to hire as their online presence allows them to continue working - Forbes
Isolation has led to a huge increase in the use of digital entertainment and services. Amazon has increased their jobs by 75,000 as the demand for online shopping and entertainment that Amazon prime offers soares. Whilst Netflix reports an increase of 16 million subscribers due to the virus. In turn this leads to a huge increase in the customer service job market.
As we have seen above digital entertainment sites such as Amazon Prime and Netflix are in high demand due to the crisis. This also extends to those in the video game industry. Video game companies have seen the biggest increase in sales in the last 10 years, this could also be due to the absence of sporting events and allows for social distancing interaction. So now is the time to get into the industry if you have ever had the inclination.
The job market for data analysts has risen dramatically with companies desperately looking for data about the virus and how this affects us in all different ways. According to FrankHR the salary for those working in data and analytics has also increased due to the Virus as the demand rises.
Food delivery companies are another of the sectors that have grown in the job market. Restaurants are turning to companies like Deliveroo to deliver their food and allow them to still have a revenue. Whilst the users of online food delivery services has risen by 12.6%, resulting in companies like Deliveroo having a surge in the job market.
Throughout the crisis there have been a limited number of companies that have been allowed to operate as normal. Supermarkets and farms are at the top of this list as people panic buy and stock up on supplies. The job market in the UK alone has seen supermarkets search for 35,000 new jobs. Whilst in the US Walmart plans to hire 150,000 employees to manage demands.
Despite the general hit on the job market due to the virus there are some companies that are thriving. Even though many companies' hiring needs have been put on hold we see benefits of hiring right now. The main point being the reduced competition. Read more in our blog: Hiring in Corona times – why now is the time to get the best talents.
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