July 2020 Hiring Trends & Market Indicators

Wondering what the hiring trends looks like from countries that have already begun their recovery as this first phase of the pandemic moves along? According to LinkedIn’s data on job postings, China’s job data is currently trending upward. This is a great indicator of where other countries, including the U.S. will be at the same place in a few weeks/months as we follow a similar arch.
China’s hiring rate reached 13.4% increased growth year-over-year as of June 5 of this year. This upward trend can be a positive sign for various other markets.
The data indicate that hiring trends begins to grow gradually starting 4-6 weeks after the lockdowns relax. We will still need more info to see if this trend will hold in other locations as public health policy varies from state to state. Also, with most international travel paused, there will be longer impacts on the world economy, but that also means local businesses will see opportunities and higher in demand for their services.

Latest July Hiring Trends Revealed

According to the recent release of July hiring trends, the U.S. is currently seeing an uptick in hiring. We are currently at equivalent employment numbers to 2014 and 2015. This is quite astonishing considering the sharp decline just a few months earlier.
According to BLS.gov, some hiring trends to note include Leisure/Hospitality (+2.09m), Retail Trade (+740k), Education/Health Services (+568k), Manufacturing (+356k), and Business Services (+306k).

Businesses Prepare For Second Time Round

One thing this report does not show is the more recent spike in cases. With many states rolling back reopenings, we are seeing businesses once again impacted. This time though, businesses, employees, and consumers don’t have the same level of panic as previously seen in the first sweep of closures. Positive Trends In The Market, Giving Us A Stronger Position Going Forward:
  • Logistics and supply have developed faster ways to meet demand by prioritizing supply.
  • Businesses became equipped and implemented policies for customer and employee safety.
  • Consumer needs have grown into buying trends and businesses are responding quickly to bring solutions to market.
How has your business been preparing for the upcoming next few months? With new policies in place, do you feel you are ready for a second round of pandemic closures? Contact Catalyst Career Group for virtual job fairs and private hiring events.
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