Job Market Watch – Weekly Update (4/13/20)

Where we are at:  We continued to see a big increase in the new weekly unemployment filings last Thursday, bringing the total unemployment filings for the past three weeks to around 17 million.  Something like this peak has never been experienced before, mostly because of the speed in which everything was shut down and stopped.  This week starts corporate earnings season, which should provide more details on the impact of the pandemic shutdown on corporate profits.  This could also give some clues about the corporate outlook for the rest of the year.

What we are hearing from companies:  Our office continues to reach out and connect with companies and we continue to hear that most companies are trying to keep their internships/full time roles.  We are seeing more companies moving to shorter durations for their internships, some cutting their internships down to 1-2 weeks total.  They are working very hard to make this shortened experience still relevant and interesting for their interns and are coming up with creative ways to make this happen.  Many (if not most) are going virtual as no one is exactly sure when work will begin to return to a normal cadence.  Full time roles are still going forward as planned, although we are seeing a few more push backs on start dates.  Despite all of this, remember that there are STILL companies hiring, so make sure to be checking Kelley Connect regularly.  Last week we had 69 new roles posted, with a mix of full time and internships.

What you should be doing now:  You should connect with our office RIGHT AWAY if:

  1. You are still seeking an internship or full time role
  2. You are seeing any change to your accepted internship or full time role schedule or structure

We can help you figure out what is going on and help you connect with your company or others to move forward.  There are still a lot of great options for you to consider for the summer, including:

  • New roles posted on Kelley Connect, LinkedIn, etc.
  • Use all of the skills you’ve gained at Kelley to help a small business, non-profit or local organization in your community as it begins to recover.
  • Explore gig work that is currently available (use tools such as Parker Dewey) or look at temp agencies for professional work options.
  • Offer to help one of your ideal employers with a project. Skills that you can leverage include Excel, social media, business analytics, PowerPoint, and process improvement.
  • Utilize companies such as Parker Dewey for micro-internships.

Throughout this all, continue to NETWORK and build relationships with companies and recruiters.

Rebecca Cook, CFA, PCC
Executive Director, Undergraduate Career Services

By Rebecca Cook
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