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5 Industries that are still hiring amid COVID recession

The International Labour Organization had said in its report that the world lost 400 million jobs in the second quarter of 2020.

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5 Industries that are still hiring amid COVID recession

With every industry being adversely affected the job market went into a frenzy, leaving professionals grasping for job prospects. While the effect of lockdown has subsided, the economy is still bruised. Many industries are still functioning while employing half of their human capital.

This has left millions unemployed and millions switching their industry to continue earning bread and butter. If you are among unfortunate professionals who had to bear the brunt of this economic travesty, all is not lost. There are several industries still providing employment to professionals.

Here are the top 5 industries that are hiring aggressively even amid the COVID situation:

1. Healthcare Industry

The healthcare sector did not remain immune to the economic recession accredited to the pandemic. More than 1.5 million healthcare workers lost their jobs. This loss, however, was far less when compared to other sectors.

From February through April 2020, healthcare employment had decreased by 9.5% as compared to 2019. Meanwhile, non-healthcare sectors showed a decline of 12.4% in May ’20 as compared to May ’19.

Despite a decline, the healthcare sectors kept adding jobs in contrast to previous recessions. Due to this, the healthcare workers form a large share of the employed workforce across the country.

By May ’20, the healthcare workers formed 11.5% of the employed workforce as opposed to 10.8% in February.

It goes without saying that this industry is in dire need of human resources. Besides the vacancies for healthcare professionals requiring professional qualifications and training, there are ample opportunities for administrative, logistical, and other supporting jobs. Additionally, there is a huge opportunity for innovation, research, and path-breaking new initiatives.

However, as the demand has gone up, so has the supply. Millions of professionals are seeking opportunities in this sector across various profiles. Hence, to stand out amid the cut-throat competition, you need a standout resume.

You might want to take the help of professional writers to get one. In case you lack the budget, you can take the help of online resources. Several professional services offer free resume templates to help professionals curate well-formatted resumes as per the latest industry trends.

2. Pharmaceutical Industry

Another industry that is working round the clock is the pharma industry. As the world is looking for a desperate solution to counter this pandemic, the spotlight is on the pharmaceutical industry.

The USA is home to some of the biggest pharmaceutical companies in the world including Pfizer – a prominent pharmaceutical name to develop an effective vaccine against COVID. This company generated the second largest revenue in the pharmaceutical sector lacking behind Johnson & Johnson.

Although the sector has seen ebbs and flows over the years, 2020 was a huge year for everyone associated with pharmaceutical companies. Despite a shifted focus from research to providing medicines for meeting the ever-growing demands, it did not fail to provide attractive employment opportunities and continues to do so.

3. Retail Industry

Banking Industry

Careful planning and agile execution helped retailers to continue the functioning of the retail sector.

The retail industry is the link between produce and supply. Retail chains have always needed humongous human resources because there are a lot of industries that are dependent on them like logistics.

Even as there are futuristic superstores on the horizon that are fully or partially automated, the retail industry is busy hiring to meet the needs of plausible lack of essential products.

You do not need prior experience or expertise to join this industry. There are numerous on-the-job training options available for professionals seeking to switch their fields to cope with the economic downturn.

4. E-learning Industry

Online education is rightly known as a ‘new normal’ in the post-pandemic era. The pandemic and subsequent lockdown opened new opportunities for this sector. It has seen an unprecedented wave of innovation and development since.

The sector registered a major spike of 36.3% last year alone and is projected to reach $336.98 billion in the next 5 years.

Many startups are spawning across the world to solve the problem of remote learning. Additionally, some giants have delved into expanding their E-learning services and tools. Adobe, Pearson, Oracle, Hewlett Packard are a few names among the long list of selected players who are taking the industry by a storm.

From online teachers, coaches to technicians, there is a scope for everyone to find a suitable role for themselves in this industry.

Although E-learning is not immune to challenges including the ability to maintain the quality and the impact of education remotely, it is one of the largest employment providers currently.

5. Banking Industry

Banking Industry

While the banking sector witnessed an immediate decline, it has managed to recover well in terms of sustaining and providing employment.

Professionals in this industry were and continue to be at a high risk of contracting the disease. This, however, did not halt the operations across the baking sector.

The industry had a lot of immediate challenges to overcome including the safety of its employees, massive changes in demand, and lockdowns across several countries. Nevertheless, the sector quickly adapted and managed to rise to the occasion without much struggle.

A system that was traditional in every sense from its mode of operations to hierarchy quickly overhauled to adapt to new reality. Most banks and financial institutions went from an in-person traditional working environment to work from home model with technologically enabled teams and distributed leadership.

Banking behemoth JP Morgan had introduced a pilot program known as ‘Project Kennedy’ calling 10% of its employees to work from home. The rest of the banks did not shy away from employing the remote working model for their non-customer-facing personnel. During the onset of the pandemic, 85% of Bank of America’s workers shifted to remote and the corporation hasn’t shown signs of calling them back.

Owing to these quick measures to curb the spread of the virus, the banking sector while being the most vulnerable managed to stay operational and continue to be one of the biggest employment generators.

If you are looking for a job in this industry, this is a great time for you, professionally. Fintech companies are at an all-time high making a lot of progress coupled with innovation and relaxation of norms. If you are keen on entering this arena, then only the sky’s the limit in terms of what you can aspire to achieve.

Whether you are considering a career switch or patiently waiting out the storm, COVID must not stop you from your pursuits. Companies like Amazon have been hiring like there’s no tomorrow & companies like Twitter switched to remote work indefinitely. This only signifies that the world won’t come to a halt rather we will adapt to a new world.

Author’s Bio:

aditya hiraton

On a quest to help professionals across the world land their dream jobs, Aditya lives and breathes Hiration — a platform to help job-seekers find their way in the treacherous job market — where he’s a Co-Founder and the unofficial CPO (Chief Problem-solving Officer). He likes to code away his days and nights when he’s not busy disrupting the career space.

You can reach him on Facebook, LinkedIn, Twitter

 

We are a team of writers passionate about innovation and entrepreneur lifestyle. We are devoted to providing you the best insight into innovation trends and startups.

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