Weekly Hourly Hiring Report 4/6/2021

How COVID-19 is affecting hourly work

Weekly Hourly Hiring Report 4/6/2021

Highlights

Overall, jobs are up 12% month over month and up 103% year over year.

Accelerated vaccination rates coupled with the strong economic rebound has pushed businesses to hire at the fastest pace the country has seen since August.

Today, the Biden Administration announced that 90% of adults will be eligible to get vaccinated by April 19. This timeline is two weeks earlier than previously thought.

The Labor Department reported Friday that total nonfarm payroll employment rose by 916,000 last month and that the unemployment rate continued at 6%.

The most significant job increases were seen in the hospitality and restaurant industries. Economists predict that net job gains in these industries point to a more robust hiring surge to come for other sectors.

However, the labor market does remain tight, with many companies unable to find workers to fill open positions. While restrictions have lifted, many businesses are not operating at full capacity due to staffing shortages. To stay ahead, businesses have moved towards more tech-enabled management and optimization tools for worker staffing, scheduling, backfilling, and hiring. Many employers are embracing a more agile workforce powered by the gig economy and less reliant on the traditional hiring route.