2020 was a year full of surprises. A worldwide pandemic took over everything! Our social lives, how students learn, how we socialize as well as how the job sector functions. Over the past few years in the hiring sector, there have been many changes, but none have been more driven or impactful than last year’s hiring process has been.
Covid-19 has put the job sector in jeopardy. Let’s take a look at how the Coronavirus pandemic has changed the tech sector worldwide:
- IT occupations have decreased by 1%.
- Around 70% of sectors have frozen their hiring or have been forced to let go some of their employees.
- Around 26 million US citizens have registered as jobless in April.
- Glassdoor has pointed out that there was a 20% drop off in the US’s job openings from March to April.
- Hardware companies, startups, e-commerce companies, etc., were all cutting off their staff during the first half of the year.
According to the Bureau of Labor Statistics, the total number of job losses has been at its highest in 2020 compared to prior years. Organizations have been reluctant about their hiring. A survey conducted by Hackernoon revealed that unemployment rates in the IT sector pushed from 2.3% to 4.4% during March 2020 alone.
Another survey was done by USA Today, and they found that unemployment rates increased to a scary 10.2% in July 2020. The giants of the tech world have also cut down. Apply, Intel. Dell Technologies and others have all cut down on their job posting by 30-60%.
The economic recession has hit almost all various industries all over the world. Companies have felt obligated to cut the slack out of their companies and keep the essential workers to ensure that their companies stay afloat during this uncertain time.
According to Hackernoon, industries with the highest layoff rates are:
There is a ray of hope:
Even though employment has been scarce in the first quarter of 2020, companies have somewhat regained their status, and with the new ‘work from home’ attitude, hiring has also become remote. There is still some good news, even though there has been a lot of job loss. It is not like jobs have not been offered to people; the truth is that the job sector has become more competitive than before. This is due to the fact that more people are now looking for jobs.
Specific skills have gained a lot of attention these days. There has been an increase in the hiring sector of some job sectors. Around 20 000 candidates were hired in April 2020 during the pandemic in the IT sector.
Here is a list of some of the skills that have become a demand in 2020:
- Business Intelligence
- Database Management
Organizations have been trying to manage the situation by undertaking cost-effective and efficient ways of hiring. Below is a list of industries that have continued their hiring amid the outbreak:
Remote working will stay for a while, which means that it would be best for companies to hire their talent remotely.