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Employment Picture Improves
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Covid Kills US Labor Market but it is recovering
COVID-19 shut began its impact on the overall unemployment rate with jump up 0.9% to 4.4% and a loss of over 700,000 jobs at the start of the shutdown. Then in April the unemployment rate skyrocketed to to 14.7% only to drop to 13.3%.
Between California and New York alone almost 3 million jobs were lost.
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IT salaries - flat
Salaries are flat and and hiring new employees is non-existent due to shutdowns
116,000 IT professionals were laid-off or terminated in April and May due to the Covid-19 shut-down. In June, the loss of IT jobs was halted. Hiring is expected to resume in the late 3rd quarter of this year Salaries are expected to increase at that point.
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2020 H-1B visa applicants not impacted by Presidential Declaration
Current H-1B visa applicants not impacted by Presidential Declaration
Comppanies in the US can employ foreign workers on H-1B visas only if they can demonstrate to the U.S. Department of Labor by filing a Labor Condition Application (LCA) that they cannot find U.S. workers with the necessary skills. DOL certified around 468,000 LCAs relating to new, existing, or transferred H-1B visas in 2019. In 2019, 188,123 three-year visas were issued or renewed, while the number of new H1-B visas remained capped at 65,000.
This executive order stops the Department of State from issuing certain new work visas to enter the U.S., but it does not cancel or affect the status of foreign workers already in the United States. That means recipients of this years H-1B lottery already in the U.S. are in the clear: Their H-1B status will still take effect on Oct. 1 as they will not need to travel abroad to obtain a visa.
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Hiring Trends Moving Average Falls Dramatically
Growth of IT Job Market Impacted Dramatically by Covid-19 Shutdown
The moving average of the number of new IT job created (lost) cascaded to an all-time low in April and May due to the shutdown. The fall shows the impact on IT professionals job prospects.
Covid-19 Drives Unemployment Rate to 14.9%
Covid Kills US Labor Market
COVID-19 shut began its impact on the overall unemployment rate with jump up 0.9% to 4.4% and a loss of over 700,000 jobs at the start of the shutdown. Then in April the unemployment rate skyrocketed to to 14.7%
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Top 10 Resume Mistakes - Best Practices to follow
Top 10 Best Practices for Resumes
Top 10
resume best practices- Keep the resume short- 2 pages or less.
- Design for best first impression
- Structure resume in outline format - Bullets, limited bold text, and a summary at the top are key directions to take.
- Spell Check
- Resume grammaticly correct - Do not user complex sentences and avoid starting with prepositions.
- Resume shouldt agree with your "social profile"
- Do not include a photo - Do not include anything that shows your age, race, or appearance.
- Resume should be 100% accurate
- Customizse resume - A at least have a custom cover letter that address the "specific" job or company that you are sending the resume to.
- Follow up
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COVID-19 Impact on hiring of IT Pros
IT Pros
job prospects remain high Janco Associates analyized the effect of COVID-19 on hiring plans over the coming months. It expects recruitment for some key senior roles to be put on hold for now, because of the difficulty of meeting face to face, while in the short term hiring of contractors and consultants has soared. Janco sees demand for middle managers staying strong for the next three months or so before taking a dip, with demand for IT staff at all levels returning in 6 to 12 months.
Hiring managers seem to have sensed sooner than government that something wicked was coming this way, though: In the first quarter of 2020, Janco found more than 243,053 IT job postings listed working from home as an option or a requirement, up from just 86,171 a year earlier.
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Before Coronavirus US Job Market was Hot
39 States were at full employment before coronavirus
In January 2020 the US job market was hot. The number of states at full employment moved upto 39 from 38 in the prior month. What will be interesting to see is what will happen to the unemployment rate due to lost jobs the later half of the first quarter and second quarter of 2020. We bet that will not be a rosey picture.
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IT Job market continues to expand
Over 100,000 net new IT jobs will be created in 2020
The IT Job Market now is over 3.65 million individuals in the US. In 2011 that same job market was 2.85 million. That is over 800,000 new IT jobs in less that nine years.
That growth is driving up salaries, which grew by 4.9% last year.
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Top 10 Ways to Verify Resume Information
Hire the best and avoid the rest
Top 10 Ways Companies Verify Resume Information have been identified by Janco as part of its annual IT Salary Survey data collection process. They are:
- Checking References
- Evaluating candidate's social media persona
- Evaluating candidates during the interview process
- Checking Employers/Schools listed on resumes
- Conducting Generic Internet Search
- Checking Public Records
- Asking specific questions of candidates
- Probational hiring
- Samples of candidates' work
- Tests during the hiring process
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