The Impact of the Pandemic on Employment
Life has radically transformed over the last two years due to the global pandemic. COVID-19 has put an evident hardship on many industries, businesses and of course their employees.
Do you ever wonder how the pandemic affected employment across different demographics, or if there was any distinction? Who felt the impact of the pandemic the most? The United Way of the National Capital Area conducted a survey of 1,300 employees who worked through the pandemic; gathering data on compensation, turnover, and work-related stress.
Starting with some positive news, most of the occupations represented in the study reported salary increases. According to the article, all industries have received salary increases since March 2020, with the exception of manufacturing. Health professionals have received an unsurprising rise in the most widespread raises, with 30.9% claiming a raise since the pandemic began. The retail industry follows closely behind, with 29.8% of employees receiving a raise. Outside of manufacturing, no industry recorded a wage increase of less than 20%.
Now, diving into generational statistics that may be shocking.
Surprisingly, our nation’s youth born between the years 1997 and 2012, also known as ‘Gen Z,’ enjoyed a 20.7% increase in hourly pay. Gen X’s born between 1965 and 1980 come in second with a 7% wage increase. The oldest of the generations, born between 1946-1964, known as ‘Baby Boomers,’ came next, with a 3.2% gain. Lastly, leaves the Millennials, born between the years 1981-1996, who only saw a whopping 0.3% increase.
For the multi-taskers, the report also collected information on salary increases for part-time employees. Gen Z came first again, with 32.1 % of respondents indicating they got a raise during the pandemic. Millennials come in second, with 26.5 % of part-time employees reporting an increase. Gen X reports 18.5% receiving a salary increase, and lastly, Baby Boomers report a 16% increase.
Life may be difficult at times, and everyone has to take care of themselves. Work may become overwhelming, but it’s just as important to prioritize your personal needs and other obligations. An average of 24.5% of Gen Z and Millenials felt overwhelmed by the number of hours they worked every week, which might be attributed to the 21.1% of Gen Z reporting an increase in hours worked. In comparison, 11-12% of Baby Boomers and Gen X felt overwhelmed by the hours worked per week. However, just about 15% of Gen X and Baby Boomers reported working more hours than prior to COVID-19.
We have all lived through a revolutionary transformation, no matter what generation or occupation you may represent. Though we all share different experiences, remember that we have all been affected by the pandemic. Continue reading to learn more shocking data regarding America’s employees during the pandemic.