CHICAGO (NewsNation Now) — Closed storefronts and shuttered businesses – a stark reality of the impact of the coronavirus on the American economy. However, amid the many job losses, business is booming for some industries.
“It’s been an unbelievable year,” said Paul Buege of Inlanta Mortgage, which is based in Wisconsin.
When mortgage rates fell to historic lows, business rose to new highs and Buege’s company started hiring.
“We started a hiring expansion in early summer and when we get all done we’ll probably increase the size of our company by about a third, while our business will nearly have doubled,” he said.
Company representatives within the home-mortgage market say the industry has never been hotter.
“The industry as a whole is grappling to fill capacity – there’s a lot of hiring basically across the sector,” said Daniel Wilson, COO of Intercontinental Capital Group.
“Since this whole COVID time, in 5 to 6 months I’ve hired more than 300 people,” said Pooja Bansal with NewDay USA.
“We hired 120 [employees] in 90 days, that’s how quickly we grew – and we need another hundred by the end of the year,” said Evolve Mortgage Services CEO Paul Anselmo.
Other industries seeing a boost:
- Fulfillment – as people are still staying home and doing more online shopping
- Cloud-computing companies – as businesses and schools push more things online
- Customer Service – as businesses and schools push more things online
“We started hiring and we started hiring fast,” said Vicki Steere with TTEC Holdings Inc. in Colorado.
TTEC is looking for virtual customer service representatives. “We’ve hired literally thousands of people this year all across the U.S. We have this work-at-home platform where we hire in 45 of the 50 states.”
Many of these companies are hiring virtually – so you don’t necessarily need to live in the state in which they’re based.