Dealing with both employees and employers daily, we are constantly hearing and seeing how “hot” the job market is right now. Yet employers, in particular, are finding it increasingly difficult to find workers. We are seeing this clear across the board, from the restaurant and retail industries to the corporate world. So, who is the job market “hot” for? And, how can employees and employers take advantage of this scorching time?
What’s Happening with the Job Market?
The labour market, while hot, is also very tight right now. The unemployment rate is at an extreme low and job vacancies are at an extreme high. Why is this? COVID-19 undoubtedly changed many aspects of the way we work but one of the biggest shifts we saw was moving to remote work. This had a direct impact on the types of employment people sought out. While tech industry businesses had to staff up their growth quickly, hospitality and retail industries took a huge hit to their employment rates, with many shops and restaurants closing. With this, we’ve seen tech, financing, non-commercial real estate, and essentially any areas of work that can excel in remote work, takeoff (if managed properly).
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