As the world returns to normal in the wake of the coronavirus, some of us are looking for our own personal economic recovery. The pandemic was devastating to certain industries, and your job may have been among them.
On the bright side, certain regions and industries have created new opportunities. If you need a job, you need to know where to find these opportunities. Here's what experts say about the employment outlook as we go into recovery.
The shutdown rules and quarantine orders affected millions of businesses. Small, independent restaurants, retail stores and businesses that cater to office workers all saw massive job losses. Many of those jobs will never come back.
After a sharp jump in unemployment rates at the start of the coronavirus crisis, unemployment rates have ticked down again. Overall, the virus caused the loss of around 23 million jobs in the US.
The effects were massive and widespread. According to the United Nations, the coronavirus shutdowns caused the loss of 225 million full-time jobs around the world.
Jobs in transportation, restaurants, entertainment, hospitality and retail were hit especially hard, but few industries were untouched. The UN said the impact was four times worse than the impact of the 2009 financial crisis.
These industries suffered the most job losses. It’s unlikely these jobs will come back quickly.
Will these industries come back? They will, but their growth will be slow. If you want a job, you’re better off looking at industries that show signs of growth in the post-pandemic recovery.
It’s not all doom and gloom. With the development of the vaccine and the slow reopening of schools, the outlook for employment is showing signs of life.
The Economic Policy Institute predicts that three factors will lead to faster hiring in the second half of 2021. These three factors, they say, weren’t present during the 2009 recession:
Heidi Shierholz, an economist at the Economic Policy Institute, told the Associated Press, “I am not often optimistic, but I am optimistic now.”
There are signs it’s already happening. In fact, a report in The Hill found that many people who lost their jobs to the pandemic have found better-paying ones. The findings applied to both white-collar and blue-collar workers.
They found that more than half of all workers who were laid off found fulltime jobs that paid better than their old ones. Another interesting finding was that 16% of white-collar workers accepted blue-collar jobs and 24% of blue-collar workers found higher-paying white-collar jobs. All these new jobs were in essential occupations.
According to a report by finance blog WalletHub, some states are showing employment growth already. The ten states creating the most jobs are:
Coming in at the bottom are Nevada, Colorado, and Hawaii.
If you live in a state that’s showing growth, you could find a job fairly soon. If you don’t, consider getting a job in an industry that’s showing signs of a comeback.
Here are the industries experts say will show the best hiring opportunities in 2021:
If you’re feeling overwhelmed by the stress of looking for work, take time every day to manage your stress. Here are some tips that can help you get through the tough weeks and months ahead.
Searching for a new job is never fun or easy, but the post-coronavirus job situation may be more promising than you think. Look for a job in an industry that shows steady growth and a bright future. You’ll be on your way to your own recovery before you know it.
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