COVID-19 Economic Impact on Employment and College Students

The coronavirus continuously has been striking the international economy, forcing businesses to close their doors as unemployment rates skyrocket. The United States will not have numerical data of the jobs lost due to the pandemic until April 1st when the March job report is released. Large commercial retailers, such as Apple and Nike, have closed their doors. Airplanes are grounded, cruise lines have canceled trips, schools are returning tuition, restaurants and bars have closed their doors, and millions of citizens have switched to working from home. 

According to the NPR/Marist poll, 18% of homes reported a loss of jobs, which will only increase in the coming weeks. At the start of this global outbreak, economists say that a recession is inevitable. The Trump Administration is working toward passing a $1 trillion stimulus package to aid businesses that were hurt during this outbreak to keep their employees on the payroll. However, researchers expect the numbers to drop to levels not seen since the 2008 recession. 

“Graduating college students usually are excited and with anticipation during this time. However, the mood has shifted in fear of the economic downturn. ”

Americans have always been resilient in their efforts to restore the country's economy. After the recession in 2008, Americans watched companies as they made a massive business comeback, such as Apple, General Motors, and Starbucks. In the face of a crisis, we are the first to create a plan to recover, as we have in the past, we will do it again.

Graduating college students usually are excited and with anticipation during this time. However, the mood has shifted in fear of the economic downturn. Seniors are on the brink of beginning their careers, staring at loan payments while searching for full-time work. Underclassmen typically scramble to find internships and summer employment. The traditional expectation on where their life will go will be different during the global pandemic.

The hiring process will change, as in-person interviews are unlikely, and the in-person networking experience is switching to virtual communication. Students should utilize mock interviews and perfect their resume. One of the benefits of phone interviews is that people can keep notes on hand, about the company and oneself. 

While staying home, students can research many career paths and make effective and efficient game plans on how they will pursue their goals. Students who already have a position secured should focus on studying and preparing for their daily tasks. Asking your hiring manager for any information on your area could allow one to walk in on their first day confidently, prepared to complete the tasks expected.

Students must be patient as they enter post-graduate life. Currently, companies are prioritizing staying open and are likely to take time even to consider new hires. Many fields will still need new employees even during the work from home period, so it is important not to lose hope. Students should utilize their time as a way to strengthen themselves professionally and focus on where they want to be when jobs are back in the hands of Americans.