At time of writing, the COVID-19 virus has created a severe contraction of the economy, and for 14 straight weeks, people filing for unemployment benefits has topped a million people.
The global economy is expected to shrink by about 5.2% in 2020, making it one of the four most severe downturns in 150 years. Never before have so many countries entered a recession at once, even during three more severe episodes—the Great Depression and the downturns following the two world wars.
Most officials project the unemployment rate will average between 9% and 10% during the last three months of 2020 and the economy will contract by anywhere between 4% and 10% for the full year.
Companies across the automotive landscape have been hit hard. Two of my former employers, Cox Automotive and TrueCar, have either furloughed or eliminated tens of thousands of jobs. Not to mention many thousands of impacted employees across hundreds of other companies in the automotive space.
Launching AutoTech.jobs is my part to help folks find open positions in the industry. The site is absolutely free to both companies and for job seekers. Hopefully we can help find some of these people jobs and get them back to work.
- Steve Greenfield