Posted On26 May 2020
Updated On01 Jan 1970
How the Job Market Will Change in 2020
When the US Department of Labor (DOL) released the unemployment rate numbers for April 2020, it showed a 10 percent increase over the previous month.
The March jobs report, which marked the beginning of the spread of the coronavirus in the US, measured at just 4.4 percent. That number rose to 14.7 percent in April, a cliff-sized double-digit jump that meant tens of millions of American workers were pushed into jobless status.
Clearly, the Covid-19 pandemic has dealt the working world nothing short of a death blow, with businesses big and small seeing their operations come to a complete stop. No industry was left unaffected, according to DOL’s analysis of unemployment claims.
With so many people out of work, what’s going to happen to the job market 2020 moving forward? Here’s how the Resumeble experts are predicting the job market trends 2020 will change in the near future.
Gig economy will drive mobility
With consumers unable to make in-store purchases due to lockdown, the Covid-19 crisis revealed just how the delivery and logistics service industry is the thankless profession that makes the world turn. When travel bans and restrictions forced ride-hailing and ridesharing services to cease their normal operations, some, like e-bike app Wheels and e-scooter sharing provider VOI, were able to successfully transition from ferrying people to delivering food and basic goods. Magnanimous business model shifts such as these indicate a thriving gig economy in the post lockdown reality. That said, not all gig jobs are the same, and those that are inextricably linked to essential delivery and supply chains will flourish more than most in the job market 2020 arena.
Healthcare jobs will be in high demand
The threat of Covid-19 isn’t expected to go away anytime soon, and hospitals and healthcare facilities will make sure they are adequately staffed to handle any surge in cases. Nurses, medical doctors, infectious disease specialists, clinicians, X-ray technicians—jobs directly and indirectly related to healthcare will continue to be in high and rapid demand everywhere. This demand for health workers will probably trickle down to businesses and organizations as well. Large companies will likely implement regular mass testing protocols for employees, which would require them to always have their own in-house pool of health providers and licensed medical professionals, ready to perform tests depending on the frequency called for, and possibly even administer treatments. This standard practice could eventually find its way to small and medium businesses as well.
IT jobs become even more indispensable
If a business can still manage to prosper without IT before, this may no longer be the case after the Covid-19 era. In the name of social distancing, many consumers are expected to migrate to the Internet to purchase goods and services, and businesses that stubbornly refuse to be accessible to customers over the internet will die a completely unnoticed death. Meanwhile, those who are able to successfully integrate IT into their business will only see their market expand. Along with this expansion comes the demand for more tech-related jobs. According to CareerKarma.com, the most sought-after tech jobs will include Machine Learning Engineer, Information Security Analyst, Web Developer, and Computer Network Architect. The best majors for future job market success in the IT field will be those that relate to these.
Remote work is the new normal
With social distancing strongly encouraged, remote work will not only grow in acceptance but become standard practice. Many companies today are keeping office manpower to a minimum to curb the spread of Covid-19, and those who can complete their tasks out of the office are moved into a remote work or work-from-home setup. As businesses become more tech-savvy, enterprises will be able to increasingly hit their productivity targets even if a large portion of their workforce isn’t always present in the office.
Is your resume ready yet?
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