Companies Facing Nationwide Worker Shortage: Job Openings by Industry and Region
This is the second factoid in a series of four factoids showing how labor shortages throughout the U.S. are fast becoming a real issue across all major industries. From farms to factories, employers are having a hard time finding both unskilled and skilled workers. The brick and mortar home furnishings industry is not immune to the worker shortage crisis facing American businesses.
Data from the Bureau of Labor Statistics supports the growing need facing companies to attract and retain employees, while adapting their training methods and introducing technology that fills the gap of a smaller workforce.
With 711,000 job openings in January, Retail Trade is struggling to hire and keep sales people. This accounts for 11.3 percent of total job openings – up from 10.2 percent last year. Both Healthcare and Social Assistance and Professional and Business Services make up 34 percent of all job openings – a total of 2.1 million jobs. 12.7 percent of job openings in 2018 (Jan) belong to the Hospitality industry (Accommodation and Food Services).
Job Openings by Region
While the South leads the way in total job openings (2.2 million), openings in the Midwest soared in one year to a rate of 4.6 percent – up from 3.7 percent. As many farms struggle to find workers, job openings in the West jumped 26 percent to 1.5 million jobs from 2017 to 2018 and finished January with a rate of 4.3 percent, while the Northeast has both the lowest rate (3.6 percent) and number of vacancies (1 million).
Source: Bureau of Labor Statistics
Note: The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus job openings