How the Covid 19 pandemic shaped the US job market into what it is today

Job markets undergo multiple transformations over time. Such is their nature. However, these changes are spread over a long period, making them almost unnoticeable as they happen. You will not see big changes on a daily basis, but once a year has passed, the job market will be miles away from where it started.

The recent COVID-19 pandemic showed us how huge changes happen to the job market with a catastrophic event. Changes that would have taken years to happen, occurred in the blink of an eye during the pandemic lockdowns. The US job market was affected heavily by the pandemic. As time moves on, it continues to come to an equilibrium from what was chaos a few months ago.

A drastic rise in remote work

With the onset of the pandemic, remote work became a crowd-favorite. According to studies, 42% of the US labor force is now working remotely. This figure was 9% pre-pandemic. More and more employers are experiencing cost savings and flexibility associated with remote work. This is an ideal situation for Americans who prefer to work remotely for various reasons, especially those who lack opportunities in their hometowns.

More Americans are shifting toward the gig economy

The gig economy was becoming popular all over the world when the pandemic hit us. Jobs like freelancing, food delivery, ridesharing, etc. are a part of the gig economy. For those requiring the flexibility of working from where they are comfortable, the gig economy is an attractive option. According to Upwork, 36% of the US workforce freelanced in 2020.

A flourishing healthcare industry

Due to the pandemic, the healthcare industry gained prominence in the job market. Healthcare jobs have great demand across America. The Bureau of Labor Statistics says that healthcare jobs have a projected growth rate of 15%, from 2019 to 2029. Sectors such as telemedicine and telehealth became rapidly popular among job seekers during the pandemic years.

The rise and fall of the tech industry boom

The technology industry had a boom during the pandemic years. As more and more people were quarantined within their homes, online shopping experienced a sharp hike. As a result, there was a 10.9% increase in job postings in the tech sector between February and November 2020, according to Indeed. Although many experts believed that the tech sector would stick to its accelerated growth rate after the pandemic, the industry had a rapid fall post-pandemic. As a result, a large portion of tech workers found themselves laid off by the end of 2022.

Green Energy

Many people began talking about the importance of green energy during the pandemic. This led to an increase in demand for green energy. The number of jobs in the green energy sector grew dramatically. As stated by the International Renewable Energy Agency in a report, the green energy sector employed a workforce of 11.5 million people all over the world. The green energy industry is expected to continue to grow in the post-pandemic world.