Glassdoor Economic Research

Key Findings 3 in 10 U.S. job openings have disappeared since the beginning of March. Job openings dropped another 3.4 percent week-over-week on May 25 from the week prior, as the Memorial Day holiday slowed hiring. Some of the hardest-hit industries are seeing hiring resume as states relax restrictions on non-essential businesses. Job openings grew for restaurants & bars (+5.7 percent month-over-month), travel & tourism (+6.8 percent), and private security (+7.7 percent). Most major metropolitan areas continue to see job openings decline. Seattle is one notable exception where the earlier and smaller COVID-19 outbreak combined with increased hiring from tech giants like Amazon have spurred a faster turnaround in hiring. What to expect in the May Jobs Report? This Friday’s May jobs report is likely to show unemployment spiking into the high teens, if not over 20 percent. If job openings stay depressed as the crisis continues, even rapid rehiring of furloughed workers may not be enough to return the economy to pre-crisis levels and make up for lost growth. As May comes to a close, the labor market continues to show the accumulating damage that the coronavirus crisis has inflicted. Glassdoor's latest Job Market Report shows that as of May 25, job openings have dropped to 4.3 million—a 29.7 percent decline since the start of March. Job openings on Glassdoor dropped 3.4 percent last week after several weeks of softening declines. Last week's decline is most likely due to the Memorial Day holiday, which typically results in a temporary drop in hiring. While the holiday effect is a temporary one, it still delays positive signs of a market rebound that many economists are waiting to see in the labor market. If job openings rebound in the coming weeks, it would raise confidence that hiring demand has stabilized and that the labor market is entering a new phase, opening up the possibility of the recovery starting. Based on an analysis of employer job posting behavior on Glassdoor, 7 in 10 employers have reduced their job openings since the beginning of March with 28% of employers pulling down all job openings. 14 percent have increased job openings since the beginning of March, indicating that pockets of growing labor demand still exist in the economy. Change in Job Openings by Industry In-person services like restaurants & bars (+5.7 percent month-over-month), private security (+7.7 percent) and beauty & fitness (+3.1 percent) saw the largest increases in job openings. As states begin to relax restrictions on non-essential businesses, these industries are reopening and hiring to replace lost workers. Job openings in travel & tourism (+6.8 percent) are also increasing; however, the industry is still well below pre-crisis levels, with job openings down 79.5 percent year-over-year. While growth in job openings is encouraging, it will still take time for hard-hit industries to fully recover. Many companies in white-collar industries—information technology (-18.2 percent), media & publishing (-14.9 percent) and accounting & legal (-11.2 percent)—have continued to cut job openings. For these industries, the decline in hiring has more to do with prolonged uncertainty and declining demand than stay-at-home orders. Government (-9.7 percent) and education & schools (-8.9 percent) saw job openings fall as states are squeezed between falling tax revenues and increased spending. Similar funding shortfalls during the Great Recession cut state and local workforces and early evidence suggests the same trend may be occurring today. Industries with the Largest Change in Job Openings Largest Increase Largest Decrease Industry MoM % Industry MoM % Private Security 7.7% Information Technology -18.2% Consumer Services 7.1% Aerospace & Defense -16.9% Travel & Tourism 6.8% Media & Publishing -14.9% Restaurants & Bars 5.7% Arts & Entertainment -13.0% Beauty & Fitness 3.1% Accounting & Legal -11.2% Source: Glassdoor Job Market Report, May 2020 For more detailed data on job openings trends by industry and industry group, see our appendix below. Change in Job Openings by Metro Even as many states and cities relax stay-at-home orders and restrictions on non-essential business, most major metro areas have continued to see declines in job openings. Across the ten major metro areas we track, only Seattle (+8.1 percent) has seen job openings rebound over the last month. One of the first American cities to have a major outbreak, Seattle appears to be rebounding quicker than other metros. Seattle is also home to Amazon, which rapidly ramped up hiring to accommodate demand for e-commerce services. Major East Coast hubs like New York City (-8.4 percent), Boston (-8.2 percent) and Washington, D.C. (-6 percent) have seen job openings decline over the last month as they continue to combat the major outbreaks in their cities. Change in Job Openings for Ten Major Metro Areas Metro MoM % Seattle, WA 8.1% Houston, TX -2.3% Atlanta, GA -4.7% Philadelphia, PA -4.9% San Francisco, CA -5.0% Chicago, IL -5.5% Los Angeles, CA -5.9% Washington, DC -6.0% Boston, MA -8.2% New York City, NY -8.4% Source: Glassdoor Job Market Report, May 2020 For more detailed data on job openings trends by metro and state, see our appendix below. Conclusion This Friday, the Bureau of Labor Statistics (BLS) will release the May Jobs Report, providing the second official reading on the labor market impacts of the coronavirus crisis. While May's report will not show as dramatic a change as April's, it is still likely to show a worsening labor market. Based on the sustained levels of unemployment insurance claims we’ve seen in May, the unemployment rate is widely expected to spike into the high teens, if not over 20 percent. At this point, economists are watching closely for any sign that the labor market is beginning to recover amid the pandemic. If job openings stay depressed, it could signal a sluggish recovery in June and beyond. Because of the unusual depth of this recession, even if the labor market sees a moderately rapid pace of recovery, it’ll still take time to fully return to pre-crisis levels and even longer to make up for lost growth. Methodology The data for the selected dates is generated based on the methodology used in Glassdoor’s monthly Job Market Report, which provides a real-time view of hiring trends and wage growth across the U.S. based on millions of online jobs and salaries on Glassdoor. The data represents a snapshot of the number of job openings available on Glassdoor on the highlighted dates. Week-over-week, month-over-month and year-over-year comparisons are based on the Mondays from the comparable period. Except where otherwise noted, no additional smoothing, averaging or seasonal adjustment is performed. Because no smoothing or averaging takes place, the data may not be directly comparable to Glassdoor's monthly Job Market Report. Appendix Each table may not sum up to total. For example, industry data may be missing for some employers. Table A: Change in Job Openings by Industry Job Openings Percent Change May 25, 2020 May 18, 2020 Apr 27, 2020 May 27, 2019 Category Current Week Last Week Last Month Last Year Week-over-Week Month-over-Month Year-over-Year Total 4,284,701 4,433,741 4,485,722 5,855,951 -3.4% -4.5% -26.8% Accounting & Legal 30,361 31,254 34,195 35,751 -2.9% -11.2% -15.1% Aerospace & Defense 56,443 57,989 67,958 86,942 -2.7% -16.9% -35.1% Architecture & Civil Engineering 26,854 27,698 28,316 42,651 -3.0% -5.2% -37.0% Arts & Entertainment 22,724 23,362 26,119 56,998 -2.7% -13.0% -60.1% Automotive 59,902 63,711 65,427 97,158 -6.0% -8.4% -38.3% Banking & Financial Services 83,575 87,579 91,299 139,077 -4.6% -8.5% -39.9% Beauty & Fitness 51,961 51,534 50,381 81,444 0.8% 3.1% -36.2% Biotech & Pharmaceuticals 58,548 61,928 63,076 71,273 -5.5% -7.2% -17.9% Business Services 6,962 7,393 7,053 12,858 -5.8% -1.3% -45.9% Computer Software & Hardware 103,184 105,322 110,421 152,078 -2.0% -6.6% -32.2% Construction 52,624 53,864 51,490 72,750 -2.3% 2.2% -27.7% Consulting 53,684 55,276 58,195 74,094 -2.9% -7.8% -27.5% Consumer Electronics 6,743 6,745 7,162 13,105 0.0% -5.9% -48.5% Consumer Services 10,907 19,490 10,183 14,389 -44.0% 7.1% -24.2% Education & Schools 159,393 171,111 174,935 243,341 -6.8% -8.9% -34.5% Energy & Utilities 29,832 29,595 29,248 50,706 0.8% 2.0% -41.2% Facilities 34,729 36,337 35,235 45,484 -4.4% -1.4% -23.6% Farming & Agriculture 8,570 8,890 8,821 9,570 -3.6% -2.8% -10.4% Government 111,830 114,833 123,776 130,017 -2.6% -9.7% -14.0% Health Care & Hospitals 581,345 598,875 630,447 846,980 -2.9% -7.8% -31.4% Information Technology 107,133 115,180 130,978 168,220 -7.0% -18.2% -36.3% Insurance 54,882 56,090 56,850 77,306 -2.2% -3.5% -29.0% Internet & Tech 122,071 153,959 125,464 68,376 -20.7% -2.7% 78.5% Manufacturing 140,024 143,543 149,767 223,746 -2.5% -6.5% -37.4% Marketing & Advertising 44,345 45,649 44,534 59,207 -2.9% -0.4% -25.1% Media & Publishing 10,725 11,694 12,602 27,975 -8.3% -14.9% -61.7% Nonprofit 53,477 56,274 57,302 72,766 -5.0% -6.7% -26.5% Private Security 17,852 18,112 16,569 23,365 -1.4% 7.7% -23.6% Real Estate 39,483 40,979 40,030 48,227 -3.7% -1.4% -18.1% Recruiting & Staffing 342,220 368,363 408,807 440,122 -7.1% -16.3% -22.2% Restaurants & Bars 457,481 460,367 432,746 520,740 -0.6% 5.7% -12.1% Retail 330,807 322,111 337,463 463,174 2.7% -2.0% -28.6% Supermarkets 83,444 86,796 85,137 89,427 -3.9% -2.0% -6.7% Telecommunications 22,715 23,631 24,311 39,172 -3.9% -6.6% -42.0% Transportation & Logistics 202,532 204,334 205,886 357,991 -0.9% -1.6% -43.4% Travel & Tourism 20,084 20,276 18,805 98,149 -0.9% 6.8% -79.5% Wholesale 16,925 16,807 16,755 30,523 0.7% 1.0% -44.6% Source: Glassdoor Job Market Report, May 2020 Table B: Change in Job Openings by Industry Group Job Openings Percent Change May 25, 2020 May 18, 2020 Apr 27, 2020 May 27, 2019 Category Current Week Last Week Last Month Last Year Week-over-Week Month-over-Month Year-over-Year Total 4,284,701 4,433,741 4,485,722 5,855,951 -3.4% -4.5% -26.8% Business Services 153,204 157,684 160,546 205,275 -2.8% -4.6% -25.4% Construction & Real Estate Services 153,690 158,878 155,071 209,112 -3.3% -0.9% -26.5% Consumer Services 199,018 213,698 207,828 415,285 -6.9% -4.2% -52.1% Finance & Insurance 138,457 143,669 148,149 216,383 -3.6% -6.5% -36.0% Food Services 457,481 460,367 432,746 520,740 -0.6% 5.7% -12.1% Health Care 639,893 660,803 693,523 918,253 -3.2% -7.7% -30.3% Production 234,869 240,017 255,794 370,964 -2.1% -8.2% -36.7% Public Services 324,700 342,218 356,013 446,124 -5.1% -8.8% -27.2% Retail 420,994 415,652 429,762 565,706 1.3% -2.0% -25.6% Tech 332,388 374,461 366,863 388,674 -11.2% -9.4% -14.5% Trade & Transportation 219,457 221,141 222,641 388,514 -0.8% -1.4% -43.5% Source: Glassdoor Job Market Report, May 2020 Table C: Change in Job Openings by State Job Openings Percent Change May 25, 2020 May 18, 2020 Apr 27, 2020 May 27, 2019 Category Current Week Last Week Last Month Last Year Week-over-Week Month-over-Month Year-over-Year Total 4,284,701 4,433,741 4,485,722 5,855,951 -3.4% -4.5% -26.8% Remote 8,084 8,342 8,210 8,550 -3.1% -1.5% -5.5% AK 8,999 9,343 9,395 11,694 -3.7% -4.2% -23.0% AL 59,044 60,191 60,017 77,218 -1.9% -1.6% -23.5% AR 31,314 32,196 32,662 39,893 -2.7% -4.1% -21.5% AZ 89,949 91,539 90,018 122,849 -1.7% -0.1% -26.8% CA 459,194 478,597 483,074 649,644 -4.1% -4.9% -29.3% CO 92,836 94,561 94,939 129,372 -1.8% -2.2% -28.2% CT 50,814 51,129 53,197 65,770 -0.6% -4.5% -22.7% DC 33,046 34,233 35,631 43,620 -3.5% -7.3% -24.2% DE 15,452 15,726 16,584 18,851 -1.7% -6.8% -18.0% FL 223,429 228,259 229,268 311,934 -2.1% -2.5% -28.4% GA 135,131 138,802 142,910 198,025 -2.6% -5.4% -31.8% HI 11,874 12,369 12,663 19,590 -4.0% -6.2% -39.4% IA 43,667 45,417 45,077 60,549 -3.9% -3.1% -27.9% ID 18,153 18,250 17,513 21,558 -0.5% 3.7% -15.8% IL 172,504 177,676 182,606 253,377 -2.9% -5.5% -31.9% IN 93,519 95,888 96,910 119,931 -2.5% -3.5% -22.0% KS 39,398 40,431 41,315 51,813 -2.6% -4.6% -24.0% KY 58,584 60,089 60,270 71,497 -2.5% -2.8% -18.1% LA 47,495 48,606 48,962 62,326 -2.3% -3.0% -23.8% MA 148,241 168,471 163,934 189,700 -12.0% -9.6% -21.9% MD 101,842 106,185 107,759 131,486 -4.1% -5.5% -22.5% ME 20,938 21,579 21,652 25,022 -3.0% -3.3% -16.3% MI 112,247 116,834 118,512 148,757 -3.9% -5.3% -24.5% MN 78,995 78,975 81,104 111,253 0.0% -2.6% -29.0% MO 79,186 80,394 83,117 109,491 -1.5% -4.7% -27.7% MS 29,750 30,348 31,178 35,571 -2.0% -4.6% -16.4% MT 12,907 12,980 12,563 16,765 -0.6% 2.7% -23.0% NC 137,961 146,852 150,838 206,666 -6.1% -8.5% -33.2% ND 11,345 11,860 12,090 15,044 -4.3% -6.2% -24.6% NE 26,202 26,846 26,583 31,804 -2.4% -1.4% -17.6% NH 25,342 29,164 25,037 32,131 -13.1% 1.2% -21.1% NJ 126,753 138,007 137,083 146,963 -8.2% -7.5% -13.8% NM 31,431 32,274 31,628 38,939 -2.6% -0.6% -19.3% NV 33,034 33,587 33,752 49,235 -1.6% -2.1% -32.9% NY 210,426 218,739 227,125 298,798 -3.8% -7.4% -29.6% OH 150,269 152,718 156,965 205,603 -1.6% -4.3% -26.9% OK 43,135 43,980 44,046 57,214 -1.9% -2.1% -24.6% OR 48,370 49,199 49,972 70,158 -1.7% -3.2% -31.1% PA 191,194 198,487 204,413 231,560 -3.7% -6.5% -17.4% RI 14,879 15,118 16,685 18,807 -1.6% -10.8% -20.9% SC 67,778 69,711 69,324 89,455 -2.8% -2.2% -24.2% SD 13,168 13,275 13,585 15,155 -0.8% -3.1% -13.1% TN 86,396 88,848 90,645 123,725 -2.8% -4.7% -30.2% TX 320,508 331,521 331,061 458,635 -3.3% -3.2% -30.1% UT 37,212 38,004 38,101 51,235 -2.1% -2.3% -27.4% VA 145,875 150,621 152,872 194,076 -3.2% -4.6% -24.8% VT 9,520 9,826 10,623 12,738 -3.1% -10.4% -25.3% WA 119,261 118,152 113,133 149,858 0.9% 5.4% -20.4% WI 78,719 80,106 84,890 109,474 -1.7% -7.3% -28.1% WV 27,084 27,168 28,140 29,197 -0.3% -3.8% -7.2% WY 9,216 9,443 10,346 11,665 -2.4% -10.9% -21.0% Source: Glassdoor Job Market Report, May 2020 Table D: Change in Job Openings for Select Metropolitan Areas Job Openings Percent Change May 25, 2020 May 18, 2020 Apr 27, 2020 May 27, 2019 Category Current Week Last Week Last Month Last Year Week-over-Week Month-over-Month Year-over-Year Total 4,284,701 4,433,741 4,485,722 5,855,951 -3.4% -4.5% -26.8% Atlanta, GA 80,735 82,530 84,727 126,224 -2.2% -4.7% -36.0% Boston, MA 119,984 138,016 130,686 154,890 -13.1% -8.2% -22.5% Chicago, IL 134,897 138,829 142,729 199,536 -2.8% -5.5% -32.4% Houston, TX 66,147 67,313 67,678 95,058 -1.7% -2.3% -30.4% Los Angeles, CA 143,573 149,578 152,599 212,136 -4.0% -5.9% -32.3% New York City, NY 228,306 245,763 249,291 302,135 -7.1% -8.4% -24.4% Philadelphia, PA 84,014 86,828 88,327 111,679 -3.2% -4.9% -24.8% San Francisco, CA 100,802 105,763 106,135 144,203 -4.7% -5.0% -30.1% Seattle, WA 88,362 86,572 81,740 112,386 2.1% 8.1% -21.4% Washington, DC 137,975 143,733 146,778 182,664 -4.0% -6.0% -24.5% Source: Glassdoor Job Market Report, May 2020 x

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