The Roaring 20s

I went swimming in my gym’s indoor pool last week for the first time since COVID hit. 

It felt like freedom.

Spring is here and the country is opening up, and our freedoms are slowly returning. 

Today, 1/6th of Americans are fully vaccinated, and ⅓ of the country has received at least one shot.  By the end of April, 33% or more of our fellow citizens will be fully vaccinated. 

We are on the road to recovery, on the road to freedom. And the job market is celebrating.

In the unemployment numbers released Friday, the unemployment rate for college-educated professionals dropped again.

Last year before COVID, it was 2.0 percent – the lowest it had been in 50 years, and a remarkable achievement. 

In April 2020, college-educated unemployment spiked to 8.4 percent as the coronavirus blindsided us all. By comparison, the worst we saw in the Great Recession was 5.0 percent unemployment among the college-educated.

That suddenness of the downturn has been matched by a remarkable recovery on the upside.  On Friday, the numbers for March 2021 showed college-educated unemployment had improved to 3.7 percent. And the total number of employed college-educated professionals is back to the levels of January 2020 – around 59 million.

At Ladders, we are seeing this strong hiring demand in our own job numbers.  Below is a chart showing the total number of $100K+ jobs in the US as measured by Ladders.

$100K+ jobs in the US are booming in 2021

From last March, we saw a decrease in overall job levels, reaching a bottom in September 2020, which is usually a strong month. You may remember six months ago that the summer COVID wave had waned, and the economy had begun its remarkable readjustment.

In December – usually a very slow month in hiring – we saw job levels recover to their March 2020 highs. And this was despite a third wave that saw our highest case levels yet.

Following that, Q1 of this year has been a rocket ship, with job postings up 33% compared to last March, and 108% compared to the depths of the pandemic in September.

From everything we see, Readers, it looks like the Roaring 20s ahead in the employment market.

Are you ready for it? 

Should the good news continue, the wave of enthusiasm, energy and excitement will be like nothing we’ve felt in a long time.

I can tell you how *I* felt when I got my second shot and walked out into Times Square here in Manhattan.  It felt like the End of the War was coming.

Not me in Times Square, but how I felt.

The sense of gratitude and relief was palpable.  Finally, after so much misery for everybody, an end was in sight.

(By the way, don’t the researchers and scientists behind the vaccines deserve a ticker tape parade? I hope we have a huge one for them in the fall.)

And with the End of the War comes new horizons, new projects, and new possibilities.

Are you ready for it? 

Have you thought about what you’ll do in 2021 and 2022? Is a new future in store for you?

While that bright future is not here yet, it’s on its way, {firstname}. 

Ready or not, here she comes!