75+ Job-Search Statistics You Have to Know [Updated for 2020]
The way companies are recruited is always changing.
It looks like it was yesterday that LinkedIn was introduced. Now everyone is asking for approval.
To say that 2020 is eventful is an understatement.
In March and April, 20 million jobs were lost together, and 4 out of 10 U.S. workers were doing their jobs full-time from home.
This turnover greatly affects the entire job market.
And just one of many interesting statistics for the year.
In this article, we’ll cover the most important and relevant statistics for 2020.
Read on to learn more about:
- Current market business situation
- Most common recruiting trends
- The importance of social media in job search
- Top jobs for 2020
- The best skills employers are looking for
- What is the typical recruiting process in 2020?
- Diversity in the workplace
What is the General Job Market Situation?
As you can see from the numbers below, this year’s statistics were far from stable.
After a relatively normal January and February, drastic changes followed the spread of COVID-19 in March.
Check out these statistics to learn more:
Employment and Job Market
As of October 2020, the 2020 national unemployment rate is 6.9%. The year started in January with an unemployment rate of 3.6%. After March, the rate rose until it reached 14.7% in April. It has since started its decline (at a slower pace) and reached 6.9% in October. This is almost twice the unemployment rate (3.6%) in October 2019. Source: Bureau of Labor Statistics
There are 2.5 people per job opening (as of September 2020). This number is lower than the 4.6 rate in April, but far from before the epidemic. Since March 2018, the number of vacant jobs has exceeded the level of unemployment. Source: Bureau of Labor Statistics
As of February 2020, 4.7 million workers (3.4% of the US population) were already working remotely. Source: Global Workplace Analytics
There were 18% fewer job applications than 35-44 year olds in October 2020 compared to October 2019. There were 17% fewer applicants from the 25-34 age group. This shows that professionals avoid the risk of changing jobs in the current environment. Source: iCIMS
Due to the coronavirus epidemic, 21.2% of employees were working from home (October 2020). Source: Bureau of Labor Statistics
Average employee tenure for all occupations in the US is 4.1 years. Average tenure for employees aged 55-64 is 9.9 years. For younger employees (25 – 34) it is 2.8 years. Source: Bureau of Labor Statistics How long does it take to find a new job on average?,#What percentage of applicants get an interview?,#Which month is best for job search?,#How long should a job search take?,#How long does it take to find a new job in 2020?,#How long can you be unemployed before it looks bad?,#Is there a bad time to apply for jobs?,#What day are you most likely to get a job offer?,#What is the best day to look for a job?,#Is a final interview just a formality?,#Does HR or hiring manager determine salary?,#How do you know you got the job after an interview?,#How do I get a job in 2020?,#Should I put a job I was fired from on my resume?,#How long do millennials stay at a job?,#Can you lose a job offer by negotiating salary?,#How long does it take for HR to approve a job offer?,#Does HR make the hiring decision?,#What are some good signs you got the job?,#Do recruiters call to reject candidates?,#Does a job offer mean you got the job?
Employment in the leisure and hospitality sectors has decreased by 3.5 million since February 2020. This is the sector that has experienced the biggest drop in employment levels. Professional and business services saw the second largest decline with jobs at 1.1 million below the February level. Source: Bureau of Labor Statistics
There was a general increase in wages in 2020.
The average salary for US workers in 2020 was $ 1430 per week or $ 74,378 per year for a 40-hour week.
Employees over 25 without a high school diploma earned an average of $ 30,784 per year. High school graduates earned an average of $ 38,792 a year.
Employees with at least one bachelor’s degree earned an average of $ 64,896. Those with more advanced degrees (Master, MBA, Ph.D. or other) earned an average of $ 90,844. Source: Northeastern.edu
Men aged 45-54 had the highest annual earnings at $ 66,092.
For women, earnings peaked at $ 52,572 at ages 35-44.
Women earn 81 cents for every dollar made by men. There is a 2% improvement compared to 2019. Women of color earn 61 cents for every dollar a white man earns. Source: Payscale
What are the Most Common Recruiting Trends?
14% of companies completely freeze recruitment due to COVID-19. 43% continued to be hired normally and 43% were hired only for certain required roles. Source: Leverage Status of Recruitment Report
Following the freeze lift, companies’ recruiting priorities are expected to change. 45% claim they will focus on hiring more mid-level executives, 42% more will focus on hiring junior and entry-level positions, 30% will hire higher-level leaders, and 24% will not change anything. Source: Leverage Status of Recruitment Report
Since May 2020, there has been a sharp increase in the number of women hired for 6-digit salary positions. Underrepresented women of racial or ethnic groups led this change, with recruitments increasing by 71%. Source: iCIMS How long does it take to find a new job on average?,#What percentage of applicants get an interview?,#Which month is best for job search?,#How long should a job search take?,#How long does it take to find a new job in 2020?,#How long can you be unemployed before it looks bad?,#Is there a bad time to apply for jobs?,#What day are you most likely to get a job offer?,#What is the best day to look for a job?,#Is a final interview just a formality?,#Does HR or hiring manager determine salary?,#How do you know you got the job after an interview?,#How do I get a job in 2020?,#Should I put a job I was fired from on my resume?,#How long do millennials stay at a job?,#Can you lose a job offer by negotiating salary?,#How long does it take for HR to approve a job offer?,#Does HR make the hiring decision?,#What are some good signs you got the job?,#Do recruiters call to reject candidates?,#Does a job offer mean you got the job?
54% of recruiting professionals offer additional training and development to overcome talent shortcomings. If they cannot find candidates with the necessary skills, they train them for the job. Source: Manpower Group
Only 27% of businesses publicly disclose their salary and wage rates. Source: LinkedIn
Job applications increase by 34% when a video is added to job posting requirements. Source: CareerBuilder
Since 2014, there has been a 2.4-fold increase in LinkedIn members whose job titles include “employee experience”. Source: LinkedIn
73% of recruiting professionals say improvements in people analysis will be a priority for their company over the next 5 years. Source: LinkedIn
The 4 most important trends expected to shape recruitment in the coming years:
- Employee Experience (94%)
- Person Analysis (85%)
- Internal Recruiting (82%)
- Multi-Generation Workforce (74%)
Source: LinkedIn Global Recruitment Trends Report
One-third of recruiters say that 50% or more positions in their company are filled remotely. Source: Jobvite
Social media, employee referral programs and job boards are recruiting areas where financial investments are expected to increase over the next 12 months. Source: Jobvite
36% of recruiters say AI (Artificial Intelligence) is making their jobs better. AI is mostly used by recruiters for job advice (34%) and candidate matching (32%). Source: Jobvite
How Important is Social Media for job-search?
- About 20 years ago there was no social media.
- Difficult to imagine, right?
- Now, it plays a huge role both in your daily life and career.
- Here are 6+ statistics showing how important social media is for your job search:
- This year, at least 67% of hires turned to LinkedIn research to recruit employees.
- 51% of job seekers claim that they prefer to find job opportunities on online job search websites. Source: Glassdoor
- Promoting an application process as mobile-friendly can increase the number of job applicants by 11.6%. This is because 35% of job seekers say they would prefer to apply on their phone. Source: Glassdoor
84% of organizations use social media to recruit their employees. One third of companies advertise on mobile devices to find candidates. Source: SHRM
70% of job applications are disqualified before they are read by applicant tracking systems. This statistic highlights how important it is to tailor your resume to the job you are applying for. Source: CareerArc
70% of employers refused a job application because of the information they found on the candidate’s social network. The primary type of content that caused this rejection (at 40%) was provocative photos. Other behaviors that employers respond negatively are: drinking, using drugs, discrimination, poor communication, lies about qualifications, etc. Source: CareerBuilder
60% of employers appreciate and award bonus points if a candidate’s social media shows interest in local or national nonprofits. Examples of written or design work were also seen positively. Source: Jobvite How long does it take to find a new job on average?,#What percentage of applicants get an interview?,#Which month is best for job search?,#How long should a job search take?,#How long does it take to find a new job in 2020?,#How long can you be unemployed before it looks bad?,#Is there a bad time to apply for jobs?,#What day are you most likely to get a job offer?,#What is the best day to look for a job?,#Is a final interview just a formality?,#Does HR or hiring manager determine salary?,#How do you know you got the job after an interview?,#How do I get a job in 2020?,#Should I put a job I was fired from on my resume?,#How long do millennials stay at a job?,#Can you lose a job offer by negotiating salary?,#How long does it take for HR to approve a job offer?,#Does HR make the hiring decision?,#What are some good signs you got the job?,#Do recruiters call to reject candidates?,#Does a job offer mean you got the job?
1 out of every 3 people who applied for a job shared at least one negative comment about a previous job or employer. 55% of job applicants who read a negative review of a job decided not to apply for the position. So, company reputation is really important to recruiting the right talent. Source: CareerArc
What are the 10+ Most In-Demand Jobs?
What will the future workplace look like?
What jobs are and will continue to be in high demand?
The demand for healthcare professionals exceeds supply. Since January, job opportunities have increased by 23%, but hiring has only increased by 3%. Source: iCIMS
According to LinkedIn, here are the 10 most in demand positions in 2020 and beyond:
Change in rank: no change
2) Registered Nurse
Change in rank: no change
3) Software Engineer
Change in rank: no change
4) Tax Specialist
Change in rank: +17
This position had the biggest change in rank.
Change in rank: no change
6) Food Driver
Change in rank: -2
Change in rank: +3
Change in rank: +8
9) Project Manager
Change in rank: -2
10) Retail Salesperson
Change in rank: +10
Fastest growing industries according to IBISWorld:
- Online Market Sales: 74.5%
- Cough and Cold Medicine Production OTC: 68.8%
- 3D Printing and Rapid Prototyping Services: 28.8%
- Online Pet Food and Pet Supply Sales: 28.5%
- Hydraulic Fracturing Services: 27.8%
- High Frequency Trading: 27.4%
By region, as of September 2020, there were job opportunities (in the thousands) in the US in:
- The West: 1,410
- The South: 2,532
- The Northeast: 1,116
- The Midwest: 1,378
Source: Bureau of Labor Statistics
What Skills are Recruiters Looking For?
Tough skills are what gets your feet in the door.
But in today’s conditions, soft skills are what recruiters are looking for.
More than 60% of recruiting professionals say they need to recruit employees with skills that were previously not needed.
The top skills employers are now looking for are:
- Adaptability (68%)
- Communication (60%)
- Technology Proficiency (55%)
- Durability (47%)
- Change Management (28%)
Source: Lever State of Recruiting Report
The top 3 fastest growing skills for 2020 were:
- Customer Experience
- Digital Marketing
- Data Analysis
80% of professionals find social skills more important than hard skills for a company’s success.
92% of recruiters say soft skills, including interpersonal skills, communication skills, and critical thinking, are very important tools in a candidate.
The top soft skills for employers are:
- Team-oriented (51%)
- Attention to detail (49%)
- Customer service (46%)
Source: The Harris Pool
68% of recruiters evaluate social skills by choosing social cues during the interview.
For example, if a candidate is energetic, he or she is a good collaborator.
However, perceptions are not always correct, they may even be unintentionally biased. 57% of professionals struggle to properly assess social skills.
Source: Job Vite
What’s the Typical Hiring Process in 2020
Do employers take a lot of time to consider an application?
How many people were invited for an interview?
How long do you have to wait after submitting a resume?
Read on to find out.
Content of the Application
An estimated 98% of companies use ATS (application tracking systems) or other recruiting systems. Source: Jobscan
75% of recruiters can see a lie on CV or Resume. Source: CareerBuilder
96% of professional employers say candidates’ experience becomes more important. Still, only 52% of companies say they provide a positive employee experience. Source: LinkedIn Global Talents Trend Report
59% of recruiters will reject the candidate’s CV if there are spelling or grammatical errors. Take the extra time to perfect your CV and correct it at least twice. Source: myjobmag
Pro Tip: Grammarly is an online correction tool that acts as your personal organizer. Give a chance!
If the formatting of your CV is poor, you have a 60% chance of being rejected. Use markup that is easily readable by Applicant Tracking Systems. Source: Stairs
Using concrete numbers increases your chances of recruiting by 40%. Back up your work experience, responsibilities and achievements in numbers to maximize your chances of getting into the job. Source: Talentworks
Adding industry keywords and powerful words increases your chances of hiring by 29%. Source: Talentworks
43% of professionals say half a page is the perfect length for a cover letter. Source: undercoverrecruiter
Inexperienced? Do not worry! For 87% of employers, a four-year college degree makes you competitive for an entry-level position. Source: iCIMS
A corporate position takes an average of 250 resumes per position. Source: EBI
The employer only takes six seconds to review and evaluate a resume. Source: The Ladders
The best time to follow up on your resume after submitting is 1 to 2 weeks. Do not send more than two emails to the employer. Not responding means you have to move on to another opportunity. Source: Accountemps
60% of job applicants may drop the application process if it is too long. Source: empxtrack
62% of job seekers say they prefer the application process to be completed within 2 weeks. Source: Clutch
The average time to fill a new position is 27 days. Source: empxtrack
73% of recruiting professionals say that in-house recruitment is becoming increasingly important for their company. Up to half of job postings are filled internally before they are posted. Source: Linkedin Global Talent Trends Report
67% of job seekers say they have a negative experience when applying for a job. 27% say they will deter others from applying to the same company. Source: empxtrack
20.8% of employers say they have difficulty meeting increasing candidate demands. Source: empxtrack
As a result of the pandemic, 84% of recruiters applied to phone calls and 85% to video calls. Source: Leverage Status of Recruitment Report
An average of 2% of candidates are invited for an interview. Source: EBI
The average job interview takes 45 minutes. Source: livecareer
Companies have an average of 9 interview stages. Source: Lever
33% of HR Managers know if they need to hire a candidate in the first 90 seconds of the interview. Source: undercoverrecruiter
67% of HR Managers say not making eye contact is a common non-verbal mistake. Source: undercoverrecruiter
The most likely question to be asked in an interview is: “Tell me about yourself”. Source: undercoverrecruiter
61% of employees say that the actual job is different from the expectations set during the interview. Source: Glassdoor
47% of the interviewees say that they will not hire interviewers without company knowledge. Source: Twin Employment Training
Diversity in the Workplace
Job opportunities for diversity and inclusion decreased by 60% from March to June. Since then, they’ve recovered 55% after a nationwide movement protesting systemic racism and racial injustice. Source: Glassdoor
76% of employees and job seekers state that a different workforce is an important factor when evaluating companies and jobs. Approximately 32% of employees say they will not apply for a job at a company that lacks workforce diversity. Source: Glassdoor
The three main reasons companies focus on a different workplace: improving culture (78%), improving company performance (62%), better representing customers (49%). Source: Careerbuilder
Companies in the top quarters in terms of racial and ethnic diversity are 35% more likely to generate higher returns than the industry average. Source: McKinsey
Expansion of workplace diversity is expected to be at the forefront of employers’ plans, following the protests of the Black Lives Matter movement. 50% of talent practitioners say this will be a priority. Source: Lever Recruiting Brief
66% of organizations have various recruiting strategies, but only 25% set gender diversity goals. Source: Jobbatical
The number of female CEOs in Fortune 500 Companies reached an all-time high this year. Women run 37 of the companies. Source: S&P 500 List
89% of talent professionals say a multi-generational workforce makes a company more successful. Source: LinkedIn Global Talents Trend Report
Hispanics and Latinos make up 8% of all U.S. graduates, but only hold 4% of senior management positions. Source: Glassdoor
Gen Z employees are 135% more likely to be in a part-time job than Baby Boomers. Source: LinkedIn Global Talents Trend Report
Global Job-Search Statistics
Employment rates aren’t just calling the US – they’re rising around the world:
- India 37.8%
- Mexico 95.3%
- Asia-Pacific 58.8%
- Germany 75.8%
- UK 75.3%
- France 65.1%
- Australia 61.2%
- Brazil 47.1%
Source: Trading Economics and ILO
In this article, the things YOU find valuable for your job search are the key takeaways.
Our best picks?
- Compared to this time of last year, employment rates are lower (reaching an all-time low in April) and most people avoid risk taking by changing their positions / careers.
- Many positions have moved away this year. As companies and employers get used to this dynamic, it is likely that some positions will remain out of the way in the coming years.
- Job interview processes have changed online, mostly through phone calls and video calls. Learn how to prepare for a video interview with our article.
- Soft skills get the attention it deserves. Remember the top 3 social skills of 2020: compliance, communication and technology proficiency.
- Social media is a great tool for job search. However, it can also be a double-edged sword. Many employers monitor your social media for negative behavior.
- Companies have masses of apps and little time. Carefully prepare your CV and customize it for the Applicant Tracking System.
- Workplace diversity has become a priority for most companies and is expected to remain so for the next year.
- Gender and racial wage gaps are closing, but progress is still to be made.