The pandemic has caused numerous employers to layoff and furlough many of their employees over the past few months. There are several industries that have been hit the hardest including the airlines, restaurants, hotels, retail stores, cruise lines and many small businesses like gyms and hair salons.
On the other hand, there are a number of businesses that have thrived during the pandemic including: on-line retailing (Amazon), video conferencing (Zoom), supermarkets, hand sanitizer and PPP equipment manufacturers and distributors, streamlining services (Netflix), healthcare, pharmaceuticals, biotech, on-line gaming and remote learning companies.
The advance seasonally adjusted insured unemployment rate was 10.6 percent for the week ending August 1, a decrease of 0.4 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 1 was 15,486,000, a decrease of 604,000 from the previous week’s revised level.
As an Executive Search and Advisory Firm, The Quest Organization is a reliable barometer of the job market, and we are highly optimistic about new jobs coming to the market over the next few months.
We have seen a significant increase in positions to be filled since May, and we expect the hiring needs to continue to grow for the foreseeable future.
If you would like additional information, feel free to reach out to: Michael Rosenblatt, President of The Quest Organization at Michael@questorg.com