If 2020 has taught us anything, it’s that life can be tough to predict. And yet, we just can’t seem to help ourselves from trying to guess the future–the weather, the stock market, the football season, and of course, the job market.
A recent job seeker survey from Nexxt HR found that 90% of candidates feel it will be harder to find a job in the coming months than it was pre-pandemic. The negativity is not surprising. The pandemic has turned everything on its head, so it’s fair to assume companies may not be hiring with as much gusto as they were previously–at least not in certain sectors. However, does the sentiment reflect reality for the job market as a whole?
The August Jobs Report brought a mixed review. Unemployment numbers improved for the fourth consecutive month, but there are still 7.8 more people unemployed than there were pre-pandemic. Of course, healthcare did not escape pandemic-related job cuts. While employment in healthcare is down from where it was a year ago, it has been impacted by the pandemic less than other sectors. New healthcare jobs have been added every month since May.
The medical sales job counts on MedReps.com have remained relatively stable, and the most recent Medical Sales Job Search Report also suggests stability. In fact, the length of time successful job seekers took to find a job actually decreased from 4 months in Q1 to just under 3 months in Q2 of 2020.
Of course, as a niche job board, activity on MedReps may not be the best measure of the broader job market, and yet, other indicators also suggest things may not be as bad as they seem. Recuiter.com announced a slight uptick in the August Recruiter Index from 3.1 in July to 3.3 in August. This score, a monthly gauge of recruiter sentiment about the labor market, is significantly better than it was in March, and a majority of recruiters expect to increase hiring over the next 90 days.
A new report by recruiting firm Manpower Group also brings good news. In their survey of 8,700 employers, 87% report they plan to remain at current staffing levels (67%) or plan to hire (20%) in the fourth quarter of 2020. The overall figure is up from 79% in the prior report, which asked about hiring plans for the third quarter. Significantly, the percentage planning to hire has almost doubled since the last report, when only 11% of companies said they planned to hire in Q3. In the report, healthcare is one of the industries with the strongest outlooks.
No one can predict the future, but the outlook for the job market is positive – especially for jobs in healthcare. If you are currently seeking medical sales opportunities, there is no reason to delay your search. Fall traditionally sees an uptick in hiring, and as life increasingly returns to normal, we can expect to see even more activity than usual. Additionally, the virtual nature of the job search means it’s easier than ever to apply and interview for jobs no matter where the corporate office is located.
Take advantage of the opportunities presented during this unique time. There is no better time to start your search than now.