Three Major Companies Plan To Collectively Hire Nearly 100,000 Workers

Despite fears surrounding the surge of the Delta variant, we continue to see a pleasantly surprising large number of jobs available. The Bureau of Labor Statistics reported over 10 million job openings in its latest Job Openings and Labor Turnover Summary (JOLTS) report. Americans filing new claims for jobless benefits fell last week and layoffs dropped to the lowest level in more than 24 years.

On Friday, we will see the monthly jobs report for August. A survey of economists, according to Reuters, indicates that around 750,000 jobs were added. This is on top of the 943,000 payroll additions in July.

Julia Pollak, chief economist at ZipRecruiter, predicts, "We expect the jobs report to show that the economy continued to add jobs at a rapid pace in August, defying Covid-19 Delta variant outbreaks across the country." Challenger, Gray & Christmas, an outplacement firm, pointed out that layoffs, which were all too common during the early dark days of the outbreak, declined by about 17% in August, the lowest level in over 20 years. 

Highlighting this positive trend, Amazon, Walmart and Fidelity plan to collectively hire nearly 100,000 workers. Once we get the monthly jobs report, we can gain a better sense of the overall state of the job market.

Online-retailing juggernaut Amazon announced plans to hire roughly 55,000 people. Newly installed CEO Andy Jassy said that the opportunities will be for corporate and technology roles. To put these numbers into perspective, it's over 33% of Google’s workforce and not too far away from the total of Facebook’s employees.

Jassy says that the hiring spree is needed to keep up with the incredible demand. As people sheltered in place during most of the outbreak, they became accustomed to shopping online, fearing going outside and risking catching Covid-19. In addition to its core retail business, Jassy needs to find specialized professionals in Amazon’s cloud, advertising and Project Kuiper division, which is launching satellites into orbit to offer widely accessible broadband service.

The company will continue with its annual job fair, scheduled to begin September 15. The jobs will include “order fillers, freight handlers, lift drivers, technicians and management positions. The positions will be permanent roles and will be offered in both full and part-time capacities.” 

Jassy said, “There are so many jobs during the pandemic that have been displaced or have been altered, and there are so many people who are thinking about different and new jobs.” These roles will be full time with a starting pay of $15 an hour, along with healthcare and retirement benefits included. It's also an opportunity for people to learn more about job openings, meet with recruiters, learn new interview tips and gain help with their résumés.

Amazon’s rival, Walmart, also has plans to aggressively hire. The big-box retailer seeks to bring aboard about 20,000 people. A large portion of the roles are in distribution and fulfillment centers. The retailer is looking to “fill some of the most high-demand jobs in retail, as the pandemic continues to disrupt the global supply chain.”

The roles are primarily permanent jobs.They include “order fillers, freight handlers, lift drivers, technicians and management positions. The average pay for its supply chain employees is $20.37 an hour.” Similar to Amazon, Walmart is holding hiring events on September 8 and 9. 

The company said in a corporate statement, “As our business continues evolving to meet the needs of today's customers, having a robust supply chain is more important than ever." The company added, "Every item on our store shelves and in our online inventory is there because of the combined efforts of our associates working in more than 250 supply chain facilities across the country."

In a completely different sector, Fidelity Investments, one of the largest money managers in the U.S. with over $10 trillion under management, shared its plans to hire about 9,000 workers. These roles are in addition to approximately 4,000 licensed representatives, technologists and customer service representatives jobs that were previously posted.  

These proposed increases in headcount come at a time when Fidelity continues to see record growth and business results across its businesses, as the stock market has been hitting record highs and gaining the attention of both experienced investors and the new emergence of Gen-Z and Millennial stock traders. . 

Abigail P. Johnson, chairman and CEO of Fidelity Investments, said in a press release, "Fidelity continues to achieve strong growth and results for our 38 million customers because of the hard work and commitment of our associates.” Johnson added, “Our financial strength and stability allow us to make significant investments in our businesses and create value for the people we are privileged to serve.”

Bill Ackerman, head of human resources at Fidelity Investments, said, “If you care about helping people, there’s a job here for you.” The money management firm is aggressively hiring for a wide variety of professionals. This includes client-facing positions (44%) and technology (9%), as well as dealing with new products, such as  digital asset trading. 

Ackerman added that the company is worker-friendly and understands that each individual has their own preferences. “We hear loud and clear about the benefits that come with remote work and the benefits of in-person work. Our flexible approach to work will give our associates the best of both,” acknowledged Ackerman.

With the release of Friday’s monthly jobs report, we’ll find out if other companies are hiring as aggressively as Walmart, Amazon and Fidelity. Even if they aren’t, we are still seeing a fantastic amount of job openings compared to where the U.S. was back in April and May of 2020.