Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
SlideShare a Scribd company logo

Job Forecast & Trends for 2020 and Beyond

•Download as PPTX, PDF•
•
Albert Qian
Albert Qian

June US employment numbers gained 4.8 million jobs, the stock market is at an all-time high, and yet, people around us are struggling to find their next job opportunity. Learn from Albert Qian, Founder and CEO of Albert’s Job List and Referrals, what will happen with the job market for the rest of 2020 and beyond given external factors such as: Coronavirus waves and its effect on the job situation for the rest of 2020 and 2021. What will happen with the job market with the 2020 election looming? Hot industries and companies that are hiring in 2020 and 2021 Work from home phenomenon and its effect on job hunting especially for parents on FMLA leave, furloughs and layoffs. Sector movements - Is there a movement from private sector to government?

1 of 53
JOB MARKETTRENDS FOR 2020 (AND BEYOND!) Albert Qian Albert’s List July 15, 2020
About Me ■ Content strategist and writer for tech companies in the San Francisco Bay Area ■ Founded Albert’s List, a community of 43,000 members on Facebook to support and connect job seekers to various resources — bit.ly/findyournextjob ■ Born and raised in the San Francisco BayArea.
Agenda ■ Setting the Right Intentions ■ The State of the Economy, July 2020 ■ Trend #1:The COVID-19 Elephant in the Room ■ Trend #2:The Future of HR ■ Trend #3:The Government ■ Trend #4:Where the Jobs Are — and Aren’t
Before we begin, let’s set some intentions for the evening.
Tough times don’t last—tough people do
This will all be over… eventually
It is Okay to Find a Job for the Sake of It Especially now
Use information to your advantage
THE STATE OFTHE ECONOMY, JULY 2020
Unemployment is HigherThan Ever ■ Unemployment Rate: 11.1% (July 2020) ■ More than 45 million+ currently out of work ■ The economy hasn’t been this bad since the Great Depression
Meanwhile, COVID-19 Is Still a Problem ■ States began to re-open too soon and are going back towards lockdown ■ A resistance to masks continues to challenge health officials ■ Businesses previously re- opened are closing again—and some for good
A Brief Economic Blip is Less Likely ■ There was originally belief in a “V” or “W” shaped recovery ■ 41% of businesses closed onYelp are shut down for good ■ COVID-19 is accelerating the retail apocalypse as more consumers go online
TREND #1:THE COVID-19 ELEPHANT INTHE ROOM
WhereWe’ve Been ■ CARES Act and PPP Loans ■ VC founds have declined by 44% (Crunchbase) ■ Underperforming tech companies have laid off (Uber, Lyft,Vmware, Yelp…) ■ Many companies are instituting WFH
Is Help On theWay? Depends. ■ CARES Act and PPP Loans are set to expire soon; unemployment extends to 39 weeks ■ Trump wants America to get back to work (“Find Something New”) ■ State budgets have been obliterated
The Challenge of COVID-19 ■ The US Federal Government bungled its response to COVID- 19 ■ Conspiracy theories and fake news drive cynicism ■ We are still at least a year out from a vaccine ■ Other challenges remain…
But…The Stock Market! ■ Major US Indices have rebounded from COVID-19 lows ■ Who’s the hero:The Fed ■ Interest rates remain lower than ever ■ The stock market does not correlate to the broader economy
What to Know as a Job Seeker ■ Until a vaccine is created OR Americans decide to unify, we are likely in a holding pattern ■ Opportunities are fewer — but are still out there; you must network ■ Companies continue to hire — it depends on your skills ■ Interviewing do’s and don’ts
TREND #2:THE FUTURE OF HR
TheTransition of HR ■ From tight job market to chaos ■ Traditional roles — recruiting, talent management, and performance ■ Managing generations
HR’sVenture Into COVID-19
And Now? ■ HR is now the interlocutor between facilities, management, and health authorities ■ HR also finds itself at the front lines of re-opening ■ Empathy is a leading message, especially as workforces stay home ■ Technology considerations — AI, Digital Assistants
What to Know as a Job Seeker ■ Traditional HR roles have transformed significantly ■ Your ability to work from home matters more than ever ■ Empathy is important for companies now, given circumstances ■ HR’s role now includes disaster prep
TREND #3:THE GOVERNMENT
There’s an ElectionThisYear ■ Currently, Biden leads Trump in all major swing states ■ Trump still trusted on the economy, lags everywhere else ■ Lagging economic indicators usually trouble the incumbent
Job Forecast & Trends for 2020 and Beyond
On the IssuesWhen it Comes to Jobs Biden Trump • Served under Obama when it came to the Great Recession (2008-2010) • Wants to forgive loans • Wants to keep people on payrolls as long as COVID-19 keeps going • Reinforce regulations on big business • Some version of Medicare for All, Green New Deal • Made in America blueprint plans to purchase US goods • Led theTax Cuts and Jobs Act (2017) which lowered corporate, individual, and capital gains tax rates • Continued trade wars with China, Europe, and others as a part of “America First” • H1-BVisas are suspended for the remainder of 2020 • Deregulatory actions around the environment and general business • Plans to build more infrastructure • The Space Force
WhatAbout Government Jobs? ■ State budgets are in the red due to COVID-19 (CA: $54 billion deficit) ■ Local and state jobs may be impacted ■ Nationally, the US continues to hire and has a COVID-19 specific site ■ Government jobs under PresidentTrump
What to Know as a Job Seeker ■ An election is coming up, research accordingly ■ State and local government jobs are likely not the place to go given budgets and debt ■ Ultimately, your job search is more individual rather than broad – You have control
TREND #4:WHERETHE JOBS ARE (AND AREN’T)
ItWas Chaos Before COVID-19 ■ Tech was going through downturn with Uber, Lyft, and WeWork ■ Economic growth had been rising for 10+ years ■ The retail apocalypse was still ongoing
COVID-19 Has Created More Pain ■ Airline, travel, banking, and retail continue to cut tens of thousands of jobs ■ Healthcare even got hit because non-COVID-19 cases were backlogged ■ Oil nosedived in March ■ Some tech companies withdrew financial outlooks
WhatAbout Opportunity? ■ Amid the chaos, there are also growing industries – WFH Office Jobs – ContactTracing – Tech Infrastructure – Essential Retail – Ecommerce – Online Learning
But where are the jobs, really? I took to Albert’s List and did a research project.
Research Methodology ■ N = 435 ■ Catalogued individual job postings. Posts that offered general referrals into a company were not considered. ■ Engineering was split into software and general engineering to address the tech-heavy sector here in SiliconValley.We also placed UX under engineering since it is design-focused. ■ Creative roles are under sales and marketing since they contribute to company brand ■ IT was placed under operations given that many in that realm are working on operations + business continuity ■ Jobs were recorded between April 30 and May 17
Jobs Continue to Be Posted ■ Roughly 150-60 jobs / month since start of April ■ Since lockdown began, postings have been fairly constant ■ Little comparison versus pre-COVID due to lack of tags, but the jobs are still there
Jobs Continue to Be Posted ■ On a weekly basis, it’s been an ebb and flow ■ Fewer jobs around Memorial Day and July 4th ■ Post holiday jobs have gone upward
So, what are companies hiring for?
JobTypes are Roughly Even ■ While contract jobs still rule the Bay, FT opportunities are still available ■ Remember the contracting cycle
No Surprise:Tech Still Leads ■ Tech has soared during COVID-19 and is reflected in job postings ■ Real Estate is still tops as the housing market continues to still be hot
Functionally, Business Continuity Matters ■ Tech jobs also remain the most in-demand, particularly those that drive business continuity – Engineering: 27.6% – Operations: 26.4% – Sales/Marketing: 16.6% ■ As COVID-19 continues, operationally essential jobs will become more critical
What DoesThe DataTell Us? ■ The closer you are to business continuity, the better ■ Tech continues to be hot — it depends on the area ■ Albert’s List has a skew – tech is hot, but look at healthcare, services, non-profits serving during this time ■ Contract gets a bad name, but full time roles are still available
Great — so how do I get hired?
Connect toYour Next Job ■ More than 51 million Americans are jobless ■ It’s not who you know or what you know — it is who knows you ■ Consider reaching out ■ Focus your networking
Interview InYour Favor ■ Focus on building trust ■ Know what’s at stake ■ Don’t take it personally
Level UpYour Skills ■ Many places are offering free courses (Ivy Leagues, Udemy): https://coronavirus.providence.org/blog/uf/609098130 ■ Consider a certification (HubSpot, Salesforce) ■ Invest in yourself (LinkedIn Learning, Lynda) ■ Take advantage of scholarships – Google: https://grow.google/certificates/ – Udacity: https://www.udacity.com/scholarships
WHATTOWATCH FOR
Forecasts for the MonthsAhead #1:The Economy won’t be primed for full recovery until a vaccine is found – Recent trials show hope #2: Business continuity jobs will rule the day—and they will be remote #3:Tech will continue to be red hot
Forecasts for the MonthsAhead #4: We’ll take just as long to recover as the Great Recession – What started as a Black Swan has become a structural economic event #5:The effects of COVID-19 will be felt for years – Everything from HR to how we shop will be impacted
Forecasts for Job Seekers #1: What you do doesn’t matter — FT and Contract are OK #2:Your network gets you in the door now, your interview is about building trust #3:Throw the kitchen sink at your career and at free resources – Take advantage of everything available to you
Forecasts for Job Seekers #4: Remote work is going to be normalized #5: Automation will be a challenge as technology takes over – Plan accordingly #6: Don’t depend on government help — things are erratic
Q&A + Let’s Connect ■ Join us on Albert’s List – www.bit.ly/findyournextjob ■ Connect with me on LinkedIn: www.linkedin.com/in/albertqian
THANKYOU

More Related Content

Job Forecast & Trends for 2020 and Beyond

  • 1. JOB MARKETTRENDS FOR 2020 (AND BEYOND!) Albert Qian Albert’s List July 15, 2020
  • 2. About Me ■ Content strategist and writer for tech companies in the San Francisco Bay Area ■ Founded Albert’s List, a community of 43,000 members on Facebook to support and connect job seekers to various resources — bit.ly/findyournextjob ■ Born and raised in the San Francisco BayArea.
  • 3. Agenda ■ Setting the Right Intentions ■ The State of the Economy, July 2020 ■ Trend #1:The COVID-19 Elephant in the Room ■ Trend #2:The Future of HR ■ Trend #3:The Government ■ Trend #4:Where the Jobs Are — and Aren’t
  • 4. Before we begin, let’s set some intentions for the evening.
  • 5. Tough times don’t last—tough people do
  • 6. This will all be over… eventually
  • 7. It is Okay to Find a Job for the Sake of It Especially now
  • 8. Use information to your advantage
  • 9. THE STATE OFTHE ECONOMY, JULY 2020
  • 10. Unemployment is HigherThan Ever ■ Unemployment Rate: 11.1% (July 2020) ■ More than 45 million+ currently out of work ■ The economy hasn’t been this bad since the Great Depression
  • 11. Meanwhile, COVID-19 Is Still a Problem ■ States began to re-open too soon and are going back towards lockdown ■ A resistance to masks continues to challenge health officials ■ Businesses previously re- opened are closing again—and some for good
  • 12. A Brief Economic Blip is Less Likely ■ There was originally belief in a “V” or “W” shaped recovery ■ 41% of businesses closed onYelp are shut down for good ■ COVID-19 is accelerating the retail apocalypse as more consumers go online
  • 14. WhereWe’ve Been ■ CARES Act and PPP Loans ■ VC founds have declined by 44% (Crunchbase) ■ Underperforming tech companies have laid off (Uber, Lyft,Vmware, Yelp…) ■ Many companies are instituting WFH
  • 15. Is Help On theWay? Depends. ■ CARES Act and PPP Loans are set to expire soon; unemployment extends to 39 weeks ■ Trump wants America to get back to work (“Find Something New”) ■ State budgets have been obliterated
  • 16. The Challenge of COVID-19 ■ The US Federal Government bungled its response to COVID- 19 ■ Conspiracy theories and fake news drive cynicism ■ We are still at least a year out from a vaccine ■ Other challenges remain…
  • 17. But…The Stock Market! ■ Major US Indices have rebounded from COVID-19 lows ■ Who’s the hero:The Fed ■ Interest rates remain lower than ever ■ The stock market does not correlate to the broader economy
  • 18. What to Know as a Job Seeker ■ Until a vaccine is created OR Americans decide to unify, we are likely in a holding pattern ■ Opportunities are fewer — but are still out there; you must network ■ Companies continue to hire — it depends on your skills ■ Interviewing do’s and don’ts
  • 20. TheTransition of HR ■ From tight job market to chaos ■ Traditional roles — recruiting, talent management, and performance ■ Managing generations
  • 22. And Now? ■ HR is now the interlocutor between facilities, management, and health authorities ■ HR also finds itself at the front lines of re-opening ■ Empathy is a leading message, especially as workforces stay home ■ Technology considerations — AI, Digital Assistants
  • 23. What to Know as a Job Seeker ■ Traditional HR roles have transformed significantly ■ Your ability to work from home matters more than ever ■ Empathy is important for companies now, given circumstances ■ HR’s role now includes disaster prep
  • 25. There’s an ElectionThisYear ■ Currently, Biden leads Trump in all major swing states ■ Trump still trusted on the economy, lags everywhere else ■ Lagging economic indicators usually trouble the incumbent
  • 27. On the IssuesWhen it Comes to Jobs Biden Trump • Served under Obama when it came to the Great Recession (2008-2010) • Wants to forgive loans • Wants to keep people on payrolls as long as COVID-19 keeps going • Reinforce regulations on big business • Some version of Medicare for All, Green New Deal • Made in America blueprint plans to purchase US goods • Led theTax Cuts and Jobs Act (2017) which lowered corporate, individual, and capital gains tax rates • Continued trade wars with China, Europe, and others as a part of “America First” • H1-BVisas are suspended for the remainder of 2020 • Deregulatory actions around the environment and general business • Plans to build more infrastructure • The Space Force
  • 28. WhatAbout Government Jobs? ■ State budgets are in the red due to COVID-19 (CA: $54 billion deficit) ■ Local and state jobs may be impacted ■ Nationally, the US continues to hire and has a COVID-19 specific site ■ Government jobs under PresidentTrump
  • 29. What to Know as a Job Seeker ■ An election is coming up, research accordingly ■ State and local government jobs are likely not the place to go given budgets and debt ■ Ultimately, your job search is more individual rather than broad – You have control
  • 30. TREND #4:WHERETHE JOBS ARE (AND AREN’T)
  • 31. ItWas Chaos Before COVID-19 ■ Tech was going through downturn with Uber, Lyft, and WeWork ■ Economic growth had been rising for 10+ years ■ The retail apocalypse was still ongoing
  • 32. COVID-19 Has Created More Pain ■ Airline, travel, banking, and retail continue to cut tens of thousands of jobs ■ Healthcare even got hit because non-COVID-19 cases were backlogged ■ Oil nosedived in March ■ Some tech companies withdrew financial outlooks
  • 33. WhatAbout Opportunity? ■ Amid the chaos, there are also growing industries – WFH Office Jobs – ContactTracing – Tech Infrastructure – Essential Retail – Ecommerce – Online Learning
  • 34. But where are the jobs, really? I took to Albert’s List and did a research project.
  • 35. Research Methodology ■ N = 435 ■ Catalogued individual job postings. Posts that offered general referrals into a company were not considered. ■ Engineering was split into software and general engineering to address the tech-heavy sector here in SiliconValley.We also placed UX under engineering since it is design-focused. ■ Creative roles are under sales and marketing since they contribute to company brand ■ IT was placed under operations given that many in that realm are working on operations + business continuity ■ Jobs were recorded between April 30 and May 17
  • 36. Jobs Continue to Be Posted ■ Roughly 150-60 jobs / month since start of April ■ Since lockdown began, postings have been fairly constant ■ Little comparison versus pre-COVID due to lack of tags, but the jobs are still there
  • 37. Jobs Continue to Be Posted ■ On a weekly basis, it’s been an ebb and flow ■ Fewer jobs around Memorial Day and July 4th ■ Post holiday jobs have gone upward
  • 38. So, what are companies hiring for?
  • 39. JobTypes are Roughly Even ■ While contract jobs still rule the Bay, FT opportunities are still available ■ Remember the contracting cycle
  • 40. No Surprise:Tech Still Leads ■ Tech has soared during COVID-19 and is reflected in job postings ■ Real Estate is still tops as the housing market continues to still be hot
  • 41. Functionally, Business Continuity Matters ■ Tech jobs also remain the most in-demand, particularly those that drive business continuity – Engineering: 27.6% – Operations: 26.4% – Sales/Marketing: 16.6% ■ As COVID-19 continues, operationally essential jobs will become more critical
  • 42. What DoesThe DataTell Us? ■ The closer you are to business continuity, the better ■ Tech continues to be hot — it depends on the area ■ Albert’s List has a skew – tech is hot, but look at healthcare, services, non-profits serving during this time ■ Contract gets a bad name, but full time roles are still available
  • 43. Great — so how do I get hired?
  • 44. Connect toYour Next Job ■ More than 51 million Americans are jobless ■ It’s not who you know or what you know — it is who knows you ■ Consider reaching out ■ Focus your networking
  • 45. Interview InYour Favor ■ Focus on building trust ■ Know what’s at stake ■ Don’t take it personally
  • 46. Level UpYour Skills ■ Many places are offering free courses (Ivy Leagues, Udemy): https://coronavirus.providence.org/blog/uf/609098130 ■ Consider a certification (HubSpot, Salesforce) ■ Invest in yourself (LinkedIn Learning, Lynda) ■ Take advantage of scholarships – Google: https://grow.google/certificates/ – Udacity: https://www.udacity.com/scholarships
  • 48. Forecasts for the MonthsAhead #1:The Economy won’t be primed for full recovery until a vaccine is found – Recent trials show hope #2: Business continuity jobs will rule the day—and they will be remote #3:Tech will continue to be red hot
  • 49. Forecasts for the MonthsAhead #4: We’ll take just as long to recover as the Great Recession – What started as a Black Swan has become a structural economic event #5:The effects of COVID-19 will be felt for years – Everything from HR to how we shop will be impacted
  • 50. Forecasts for Job Seekers #1: What you do doesn’t matter — FT and Contract are OK #2:Your network gets you in the door now, your interview is about building trust #3:Throw the kitchen sink at your career and at free resources – Take advantage of everything available to you
  • 51. Forecasts for Job Seekers #4: Remote work is going to be normalized #5: Automation will be a challenge as technology takes over – Plan accordingly #6: Don’t depend on government help — things are erratic
  • 52. Q&A + Let’s Connect ■ Join us on Albert’s List – www.bit.ly/findyournextjob ■ Connect with me on LinkedIn: www.linkedin.com/in/albertqian

Editor's Notes

  1. Before we get into the meat of today’s discussion, I want to set some intentions for today and beyond, especially for those of you who are on the job search. I’ve discovered that my hunt for work is partially practical (what I have done in the past) and partially behavioral (driven by what I think).
  2. Some of you might be here because you haven’t found work in a few weeks. Some of you might be here because you haven’t found work in a while. Regardless of where you have come from, it only matters where you are going. The important attitude to have here is that your ability to find work is going to be an inevitable outcome. You cannot think any other way.
  3. We live in a world where messages like “love what you do and do what you love” are top of mind. The reality is, we live in the Bay Area where it’s expensive to even pay rent. If you need to find a job, put that first. It’s okay to not have your paycheck be your passion.
  4. Many of us feel vulnerable about our job search. Much like asking for help, we hide away from others because we feel shame for not working. The truth is, as long as you are moving forward in your career and doing the necessary work to move ahead, there is no reason not to feel vulnerable. Finding work is tough in the Bay Area, and everyone should be commended for doing so. Showing up is first and foremost.