How COVID-19 is affecting employment trends

Workers are reporting fears about job security and high stress, according to recent Monster data. Here are three takeaways from the report.

The coronavirus could make remote work the norm, what businesses need to know

As the COVID-19 pandemic has put companies out of business, employees out of work, and transitioned the workforce online, employment trends have rapidly shifted, as well, according to a new report from Monster. The novel coronavirus has made remote work the new normal, especially as global health concerns are mandating stay-at-home policies in many states. In particular, healthcare has been affected by the trend–"telehealth nurse" searches went up 71% from March 30 to April 5, for instance. And a new field of jobs has opened after the CARES Act, for loan interviews and loan officers increasing 59% in search listings.

Here are the three major takeaways from the Monster data, reported from mid-March to early April:

1. Job security

According to data from job seekers and recruiters, most employers (58%) report fears about job security, and even more (67%) of employers report these concerns. Active job seekers represent 34% of the workforce, but express concern about success. And about half (46%) of workers expect their employment to alter in the wake of COVID-19, whether by switching to remote work, "increased health and safety protocols (either formally or personally enforced), and residual emotional impact," the report states.

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2. Stress is impacting workers

Of nearly 7,000 US employees, 73% have reported mental stress symptoms such as nightmares, loss of focus, depression, anger, according to the report. Physical symptoms have also been reported for nearly a third (27%) of workers, such as weight fluctuations, back pain, and sleeplessness. Health is cited as the No. 1 source of stress for 56% of employees, and 80% of employees consider their stress to be detrimental to their job performance. This is carried out by research, which demonstrates how stress can be toxic to the workplace

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3. Workforce trends

Since the start of COVID-19, most companies (65.1%) are cutting job listings, according to a Monster poll of 68 employers. And employers are split over whether to expect layoffs-just over half (51.5%) of them say they don't foresee layoffs in the future. The good news is that remote hiring is picking up, and more than two-thirds of employers (72.2%) think that this is a viable option.
In response to the recent challenges, Monster provides free job listings to frontline healthcare providers, in an effort to connect workers to potential employers, as well as a dedicated coronavirus landing page with tools for workers during this tumultuous time.

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African-american man browsing work online using job search computer app

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