One of the most damaging aspects of COVID-19’s effect on the economy is the rise in unemployment caused by companies being forced to close.
The NY Times estimates that the figure currently stands at around 13% and rising rapidly, a level of unemployment not seen in the USA since the Great Depression (1929 to 1933).
Despite widespread disruption, not all businesses have suffered as a result of coronavirus. In fact, some are resisting the market trend and have reported big spikes in hiring, which could serve to temporarily alleviate those affected by job loss.
Top three US businesses still hiring
Perhaps one of the most significant societal effects of coronavirus has been the emergency closure of schools and the uncertainty of when they will re-open. Parents wanting to maintain continuity in their child’s education have turned to Outschool as a resource to do this.
Amazon: With non-essential retail spaces being closed or avoided to mitigate the spread of the virus, home delivery services like Amazon has been able to capitalise on meeting shopping demands in a safer way.
So far, the company has announced the creation of 100,000 new part-time and full-time positions and even a pay rise for each employee until the end of April.
Walmart: The largest company in the world by revenue (over US$514bn) has yet to be dented by COVID-19’s corrosive effect on the global economy. In fact, Walmart has issued a press release stating that it will be hiring 150,000 new staff nationwide.
Striving to stay open and provide Americans with the essential products they’ll need to weather the storm, the retail giant is keen to make the most of bad situation by offering employment and potentially even expanding during this time.
“We’re growing, expanding and looking for more people who want to make a difference providing for customers,” said Greg Smith, head of supply chain.
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