Will Jobs Come Back After COVID?

COVID-19 has rocked the global economy and left millions of people unemployed. In the US, more than 20.5 million people are unemployed because of the pandemic. If you are one of the affected individuals, you are probably wondering whether you will go back to your old job or secure a new one. The ability to secure a job after the epidemic depends on the industry that you are in and your job title. Let us look at the various industry facts and discuss what you can do if you do not get your job back.

A Look Into the Service Industry

The service industry is one of the most significant contributors to the country’s GDP. When the pandemic hit, the industry was among the first to implement the stay-at-home orders. However, most jobs in this industry are most likely to return. Here are some of the jobs that will probably hire back workers.

Retail Workers

Retail businesses shut down in April, rendering about 2.3 million people jobless. Currently, many stores have opened up, and about 368,000 jobs are available. The jobs are available mainly at general merchandise stores, car dealers, and clothing shops.

Bartenders and Kitchen Staff

Restaurants and bars were shut down for dine-in customers when the pandemic hit. However, they remained open for delivery, takeout, and drive-thru. The demand for these services created about 1.2 million new jobs in hospitality, mainly bartenders and kitchen staff.

Beauty and Wellness Jobs

Most spas and salons shut down in late March. In May and June, a number of them began to open up, and customers flocked in. Most clients needed nail care, haircuts, and several beauty treatments.

Other Non-Service Jobs That May Return

Non-service jobs may make a comeback. Some of these jobs include:

• Construction Contractors
  The government has loosened some building restrictions and is supporting construction workers. From May, construction contractor jobs have increased by 325,000.

• Medical Professionals
  Numerous elective treatments for conditions that are not life-threatening were put on hold in March and April. They resumed in May, and since then, about 312,000 positions were open.

What Next if Your Job Does Not Return?

Do not lose hope if you do not quickly get a job after the pandemic. There are several steps that you can take to protect your future and finances. Here are some of the steps.

Reduce Your Spending

While you are still out of work, try making some lifestyle changes that will help you save money. You can start by limiting the number of times you eat at restaurants, getting rid of cable, and stopping unnecessary spending.

File for Unemployment Benefits

You may be entitled to unemployment benefits if you lost your job or if your hours were cut. Even though unemployment laws are different in each state, there is a possibility that you may receive half of what you were making at your previous job for about 26 weeks.

Consider Getting a Job In a New Industry

Do not be too rigid. You can explore industries that are high in demand, such as the service industry. A job in a new field may be the answer to your unemployment problem.

Ensure That Your Healthcare is Taken Care Of

Illness or injury can occur when you least expect it. To alleviate any financial burden that may result from an accident or disease, ensure that you have health insurance.

If you are finding it difficult to secure a job and are worrying about late credit card payments, you should know that debt relief assistance is available. Our team is here to support you with effective debt solutions.