Events

Prof. Murillo Campello
Lewis H. Durland Professor of Finance
Johnson School
Cornell University

Big data on job vacancy postings reveal multiple dimensions of the impact of Covid-19 on corporate hiring. Firms disproportionately cut hiring for high-skill jobs (within-firm down skilling). Financially constrained firms scaled back high-skill hiring most, as did firms with workforces more adaptable to “working-from-home.” Applying machine learning to job-ad texts, we show that firms have skewed hiring towards operationally-core positions. New positions take longer to fill, displaying greater flexibility regarding schedules, tasks, and requirements. Financing constraints amplify pandemic induced changes to the nature of positions firms seek to fill, with constrained firms’ new hires witnessing larger adjustments to jobs roles and employment arrangements.