Younger Americans Face Higher Layoff Rates and Pressure to Change Job Fields During the Pandemic.
ResumeBuilder.com, the premier resource for free and professional resume templates, has published a recent study on how the COVID-19 pandemic has affected employment for Americans. The survey highlights key information on unemployment status as well as qualitative data from workers about the current job market.
Research findings indicate that younger Americans are disproportionately affected by employment changes during the pandemic. More than half of workers age 18-34 have experienced a change in employment status due to layoffs, furloughs, reduced hours, or resignation. Twelve percent of Americans under 34 years old are laid off, compared to 7.6 percent of workers age 35-54, and 4.3 percent of workers 55 and older.
ResumeBuilder.com also provides an in-depth analysis of behaviors and attitudes towards the current labor market. Nearly 32 percent of Americans age 18-34 are actively seeking new employment, and almost all are looking for jobs outside of their current or previous industry. Comparatively, only 24.8 percent of workers age 35-54 and 19 percent of those aged 55 and older are seeking employment in a new career field.
“With the unemployment rate going from 3.5 percent to over 13 percent, American workers are forced to pivot in this unstable job market,” says ResumeBuilder’s Director of Marketing Donnie Dinh. “Whether you’re entering a new industry or just looking for work in your field, it’s crucial to have a polished resume that addresses any COVID-19 related-employment gaps and includes a branding statement to explain the unique value that you will bring to a company.”
In addition to disparities among younger Americans, the study also revealed that layoff rates are nearly twice as high for Hispanics as they are for whites. Over 11 percent of Hispanics were laid off, compared to 6.3 percent of whites. The recent survey was developed in partnership with YouGov, a recognized authority on public opinion data. Experts collected data from 3,786 Americans aged 18-55+ and analyzed responses based on age, income level, race, and gender. To view the complete survey report, please visit https://www.resumebuilder.com/covid-19-employment-impact-survey/