Whatever career plans we hoped to achieve last year likely got torn up by the pandemic that also scrambled our economy. To get back on track for 2021, think about updating your résumé both to take advantage of opportunities presented by a vaccinated world and to defend yourself against the downsides of the coronavirus recession.
The good news is that the unemployment rate for college-educated Americans has returned close to pre-COVID-19 levels. Last January, the college-educated unemployment rate was at 1.9%. With the pandemic, it rose to a high of 8.4%. That’s very bad considering 5.0% was the worst rate recorded during the Great Recession. Happily, with PPP and our resilient modern economy, it has come down to 3.8% today. Still not as good as a year ago, but quite a bit better than the recent past.
This rate of improvement has had a big impact on businesses’ enthusiasm for hiring. At Ladders, we have historically seen a 50% slowdown over the holiday period in the number of job postings in the six-figure salary range. Fortunately for you (but unfortunately for our operations team, who got no break at all), volume stayed high throughout December, double what it normally is at that time of year. And January seems even stronger still.
All of which means that now is a time to carefully review your résumé to position yourself well for what the year ahead may bring.