By now, weve all read alarming reports about the millions of people who will lose their jobs in response to the coronavirus-related closures of businesses. There are estimates suggesting that three million people will be unemployed by the summertime. It's hard for us to comprehend the magnitude of the jobs lost.
I performed a careful analysis on the number of rsums posted within the last month on Indeed.com, the large job aggregation site. I primarily focused on the industries that are expected to have the largest amounts of layoffs, including airlines, restaurants, hotels and retail. The results were alarming.
Bear in mind that this data was derived from only one job site. The people who posted online include both those who are working and those that are currently unemployed. To protect the privacy of people and companies, I will not disclose any corporate or individual names and only refer to the types of businesses.
A search for job seekers that referenced airlines in their job title or company showed 25,423 rsums. These people run the gamut. They include flight attendants, pilots, aircraft maintenance technicians, dispatch supervisors, ramp agents, flight instructors, brand ambassadors, ticket agents and talent acquisition professionals.
They currently work or have been employed by the large, well-known airlines, as well as smaller and regional operators. Their work experience ranges from one to over 10 years. The largest segment is people with over 10 years of experience.
Related to the airlines, a large aircraft manufacturer had 4,004 people post their rsums.
They holdor have previously heldpositions, such as manufacturing manager, industrial engineer, senior procurement agent, talent acquisition advisor, senior financial analyst and human resources business partner. The years of experience go from one to more than 10 years. The six-to-10 year people have the largest numbers. The educational level includes a large number of people with bachelors and masters degrees.
The term restaurant yielded 406,820 rsums of servers, bartenders, cooks and cashiers.
Within the last day, 13,355 new rsums were posted. This number starkly represents the carnage caused by the governments edict to prohibit dining inside of food establishments.
Under retail sales, 291,170 rsums showed up in a search. The candidates workor have previouslyworked at department stores, boutique shops, specialty retailers, big-name chains, phone sellers, liquor stores, appliances, beauty and cosmetics, auto parts, casinos, home goods and convenience stores. Within the last day, 8,695 rsums were just posted.
The search term hotel showed 209,330 rsums, with titles such as customer service representative, front desk agent, housekeeping and server. Within the last day, 6,610 rsums were posted.
There were 3,722 rsums uploaded from people who areor wereinvolved with the cruise line sectors.
A large percentage of the rsums for people working in retail sales, hotels, restaurants and cruise lines are college graduates and many have advanced degrees and up toand over10 years of experience.
The data reflects the trends of closures. Restaurants have been ordered to stop serving patrons and are only permitted to deliver or offer pickup services. Air travel has been restricted. Malls, department stores and shopping centers have been told to close, if they are deemed nonessential. The job seekers mirror whats happening in our job market and economy.
Interestingly, the data from Indeed shows growth in job listings for forklift drivers, warehouseworkers and shelf-stockers. This reflects the hiring that weve seen with Amazon seeking 100,000 people for their fulfillment facilities.
Jed Kolko, the chief economist at Indeed Hiring Lab, said about the current state of the job market, It's very hard to know where we will be in three, six or twelve months from now. Theres still so much we dont know. The public data has been alarming. Expect more bad numbers before we see good news.
The number of people looking for a new job continues to grow exponentially. In light of the job losses and fear over job security, it's imperative that our politicians peacefully collaborate together to fight against both the coronavirus and the looming unemployment disasters.
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