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18 Nov. 2020 | Comments (0)

We react to the October jobs report and then discuss the Top 10 Pandemic Job Market Trends. The U.S. economy and labor market are experiencing a very unusual recession. As the fallout from COVID-19 continues, we identify the biggest trends involving the U.S. job market that business leaders should be aware of.

Join our panel of economists from The Conference Board—Gad Levanon, Vice President Labor Markets, Elizabeth Crofoot, Senior Economist, and Frank Steemers, Economist—as they explain the following critical COVID-induced trends:

1. After a summer hiring sprint, job gains are slowing
2. It is still difficult to find qualified workers
3. People are leaving the labor force
4. Goods and services have switched places
5. A k-shaped recovery is playing out in labor metrics
6. Salary cuts and wage bifurcation are likely to continue
7. Remote work is now en vogue
8. City centers are in deep recession
9. The coasts shouldered the brunt of job cuts
10. Large metro areas and vacation destinations were hardest hit

Related reading:
Gad Levanon, “The Top 10 Pandemic Job Market Trends,” Forbes, October 19, 2020. https://www.forbes.com/sites/gadlevanon/2020/10/19/the-top-10-pandemic-job-market-trends/#460a921b610b

 

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