Economy

Jobs, Jobs, Jobs

Reading Time: 2 Minutes

Hey what’s up everyone!

There’s been many prickly issues which have popped up as a result of COVID-19.

A major one of course, is jobs.

Or rather, job loss.

Some estimates state almost 1 million Aussies have lost their jobs, implying a jump in the April unemployment rate to 11% (for context, March was 5.2%).

Ouch.

Today’s post is on some insights into the current Australian job market in the midst of this pandemic.

Thanks to Indeed for these stats!

Supermarket jobs FTW

A big surprise has been the sharp spike in searches for supermarket jobs… then again maybe not.

Seems like two of the major “beneficiaries” of this crisis, have been the consumer staple brands of Coles and Woolworths, no wonder they are struggling to keep up with job demand:

COVID-19 Job Search Trends: 4 Things Employers Should Know - Indeed Blog

Wow look at that surge!

Unfortunately, methinks this implies the vast desperation of job seekers out there.

Because arguably, not many people have long-term aspirations in working at a supermarket.

It is very much a job that fits around your life circumstances, acting as a financial band-aid that you can get into quickly, with minimal training and which you can leave once your normal workplace comes back online.

Job Listings Plummet

As you can imagine, job postings have fallen off a cliff between this time last year.

This makes sense, because no one is hiring right now, and as a business owner – why would you?

The silver lining is that it seems to be stabilizing somewhat, but that’s scant consolation.

Hardest Hit Sectors

No prizes for guessing the biggest losers here.

Food preparation, hospitality and sports make up the highest falls.

And is it any wonder that job listings in the healthcare sector have fallen the least? I’d had expected them to grow to be honest…

What About Internationally?

This one was the biggest surprise for me.

Look at that! Australia and New Zealand leading the way.

I’m confused by this, because you’d have thought that those countries with really nasty infection levels – like the US and UK, would be highest.

It might be because us Aussies and our cousins across the ditch in NZ have enforced stricter levels of social isolation and quarantine than some other countries, so the impact to businesses are greater.

How Does It Affect Me?

Well, if you’re still in your job, count yourself lucky, because these stats make sobering reading.

Our labour market is really struggling and there is plenty of hurt at the moment.

Therefore, it’s no surprise that social isolation and distancing restrictions are being lifted as we try to get things back to normal (or the “new normal”), as quickly as possible.

But despite the optimism, I still can’t shake off the feeling that we are just seeing the beginning of this economic shock.

Seems like we have a LONG way to go before we can feel confident again.

What do you think?

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