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Coronavirus is Eating Jobs but LinkedIn Data Says Otherwise

The coronavirus is roiling global job markets, but the image just isn’t all grim. Finance, technology, and consumer goods corporations are hiring tens of thousands in the US and different countries, based on data from Microsoft Corp’s professional networking site LinkedIn.

Coroanvirus is Eating Jobs but LinkedIn Data Says Otherwise

Throughout seven countries in North America, Europe, and Asia, healthcare suppliers are among the busiest recruiters given the ongoing battle against the novel coronavirus, which has killed more than 200,000 individuals and infected over three million individuals worldwide, LinkedIn said. However, lifestyle modifications during lockdown are also pushing demand for financial consultants, manufacturing unit workers, animators and game designers, and delivery workers.

Overall, the hiring rate has plunged in Q1 from the prior year and in late April remains lower than a year ago throughout most nations surveyed by the platform. However, the information offers a glimmer of hope with a gradual uptick in China, where the coronavirus emerged in 2019 and which leads the world in surfacing from a months-long lockdown.

LinkedIn, with over 690 million users around the world, counts new hires when people add a new employer to their profile. The rate is the number of new hires divided by the total number of LinkedIn members in a country.

The figures, tracked since mid-February, are not corroborated by official jobs records and don’t represent the precise number of jobs in an economy. Government figures are often released with a time-lag of several weeks.