Journal of Financial and Quantitative Analysis Vol. 59 No. 4 2024
Corporate Hiring Under COVID-19: Financial Constraints and the Nature of New Jobs
Abstract
Big data on job postings reveal multiple facets of the impact of COVID-19 on corporate hiring. Firms disproportionately cut new hiring for high-skill positions, with financially constrained firms reducing skilled hiring the most. Applying machine learning methods to job-ad texts, we find that firms have skewed their hiring toward operationally-core functions. New positions display greater flexibility regarding schedules and tasks. While job posting levels show signs of recovery starting in late-2020, changes to job descriptions and skill profiles persist through early-2022. Financial constraints amplify these changes, with constrained firms’ new hires witnessing greater adjustments to job roles and employment arrangements.
- DOI
- 10.1017/s0022109023000522
- Volume
- 59
- Issue
- 4
- Pages
- 1541-1585
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref