Over 3 million Americans were forced to apply for unemployment benefits as a result of the coronavirus and its subsequent economic havoc. This is 5 times the number of applicants in September 2024. Economists foresee the unemployment rate to hit 20 – 30% by summer. Yet, if you are planning a career switch, this is the time. While the virus is wreaking economic havoc in the short term, it is not going to play a major role in changing the general skill expectations in the long run.
People have the tendency to hunker down when faced with uncertainty, but that is not necessarily the right thing to do. Whether you are unhappy in your current job role or have recently been laid off, it’s time to look for greener pastures. Luckily, there are several industries that are booming amidst the coronavirus pandemic. These are a few of them.
1. Cannabis
With almost 38 states legalizing medical marijuana, there is a huge boom in the cannabis industry (but not as much in California because regulations are making it hard to grow this product and make money doing it). Experts predict that the US cannabis industry could be one of the fastest-growing industries by 2025. This is the perfect opportunity for you to get back on the bandwagon if you were laid off. The industry hires everyone from managers with past experience to newbies.
You don’t need to limit yourself to one role while applying for a job, learn more. There is a huge array of job descriptions on offer. If you are more interested in the production side of things, you could become a grower. If you think your marketing skills are top-notch, you could enter the retail stores. Other options include marketing, legal, security guard, store manager, cashier, edible maker, vaporizer retailer and so many more.
2. Food and Beverage
People need to eat regardless of what happens in the economy and the global platform. This is why brands that tend to keep their shelves stocked are doing well. One of these brands is Pepsi which managed to show a profit even though many of their manufacturing units were shut down. On the other side of the supply chain are the retail stores, such as Walmart and Target, that sell these groceries.
They are likely to continue hiring because of the increase in business. You can try applying to food delivery companies as well. Most companies in the food and beverage sector have large corporate offices besides the sales floor. You can find a job in the human resources, management, design, or marketing department with ease.
The best part is that these companies will likely continue to grow as business booms and more job opportunities make themselves available.
3. Cyber Security
Many companies are trying to pivot entirely to work from home or remote work structures. This has led to a big question about cyber safety and security. Employees working from home still need access to sensitive yet vital information in the form of financials, software code, and internal documents.
The company’s system needs to be able to provide this while securing against malware, malicious actors, and cyber-attacks. Cybersecurity is currently a $100 billion industry which is expected to grow to $260 billion by the end of 2025. However, you need the right skill sets to be a part of this industry.
4. Health and Wellness
Health is big on everyone’s mind in the current pandemic scenario. People have started taking better care of their bodies. Companies working in this sector have continued to perform well despite the various setbacks. These companies include pharmaceutical companies and healthcare providers.
On one side, men and women follow online exercise classes. On the second side, people passionate for sports and fitness switch from hobbies to qualification. They complete sport, fitness and recreation courses like this or become a self-employed personal trainer and set up a fitness program according to clients needs.
Insurance companies offering health coverage are also doing well. Other areas to consider are manufacturing units, like Unilever that are big players in providing wellness and health-related consumer goods. These brands manufacture everything from toilet paper, soap, sanitizers, and bleach to floor cleaners. There is an uptick in sales for these products, which means there are growing job opportunities.
5. Social Media
Social media has gained immense popularity with everyone stuck in their homes right now. People have turned to social media to get rid of loneliness and to connect with other humans. Movies, restaurants, and sports events are canceled, leaving only online platforms to spend time with friends and family.
Instagram, Facebook, and other popular platforms hire huge teams of multi-talented people to handle app development, design, marketing, and other standard positions. You don’t need to stick to the big players. Several small players are entering the online market as well. You can find a niche for yourself in one of these platforms.
6. Gaming and Streaming Entertainment
Streaming subscriptions and video games are increasing in popularity. People have a lot of free time and they need something to fill up the hours. These media options offer a way to escape reality and satisfy the need of doing something.
Streaming companies, like Netflix and game developers, have taken their business to a whole new level by providing entertainment. You can consider these opportunities as your next career change. Many of us prefer movie theaters but this is the reality at the moment.
7. Videoconferencing
Many video conferencing companies are witnessing exploding numbers in new sign-ups. Organizations are using these portals to connect their employees in a better way. Families are using videoconferencing as a way of celebrating birthdays, weddings, and other special occasions.
Most online video conferencing companies, such as Zoom are moving quickly to catch up. They have actively launched recruitment drives to fill the ever-increasing job positions. Other videoconferencing hosts, like Facebook with Messenger, Google with Hangouts, and Apple with FaceTime are also following suit.
8. Financial Sector
Many companies and countries are weathering the financial storm of the Wuhan virus. There is a lot of lending happening right now to help organizations navigate this economic fallout. Financial companies and banks are expected to stay busy till the end of next year.
They have to make specific arrangements to tackle the ever-increasing loan applications. This is on top of the everyday banking requirements of customers. You can make the most of this opportunity by looking for entry-level career positions. Don’t forget to consider online financial and lending platforms or payment facilitators like PayPal and Square.
