April 2020 Jobs Report: Unemployment Hits 14.7% Due to Pandemic
Posted by myscionstaffingaustin on May 13th, 2020
Largest job losses in leisure and hospitality
Employers cut payrolls by 20.5 million jobs in April.
All major industry sectors reported job losses. The leisure and hospitality industry was impacted most, with employment down by 7.7 million. Education and health services, professional and business services, and retail trade also experienced steep declines.
One potential bright spot: Many unemployed workers — 18.1 million — reported that they had been temporarily laid off, and they expect to return to work as businesses recover.
What employers need to know
Despite the large number of pandemic-related job losses, there is hiring going on.
But employers have had to adjust their hiring approach to fit the current environment. That includes conducting remote job interviews and creating a remote onboarding experience.
Another key challenge for companies looking to hire is the lack of resources to manage the process, especially since it is more complicated now.
Many businesses are also taking a more cautious approach to austin staffing agencies certain roles, choosing to engage highly skilled temporary professionals until conditions stabilize.
What job seekers need to know
It goes without saying that many job seekers feel extremely discouraged by the current hiring environment. But keep in mind that the April jobs report doesn’t provide a full picture of the employment landscape. Companies in various industries are hiring right now. No doubt, you’ll need to work hard to find opportunities that fit your skills and experience. But they are out there.
An increasing number of companies are hiring remote workers now that they have seen how effective working from home can be.
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