Industries where job openings are increasing and decreasing most
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Industries where job openings are increasing and decreasing most
Job openings are at their lowest levels nationally since March 2021, Bureau of Labor Statistics data shows. The number of job openings nationwide fell by nearly 338,000 from June to July, ending the month at about 8.8 million. That figure was down more than 2.5 million from July 2022.
While the number of jobs open for hire fell, employers continued to add jobs, upping employment by 187,000 in July. The unemployment rate also remained little changed at 3.5%. So, while Americans still find themselves largely employed, their capacity to job-hop is quickly falling to levels predating the Great Resignation. For now, the number of job openings is still well above pre-COVID levels, which were typically somewhere around 7 million.
Conrad DeQuadros, a senior economic advisor at Brean Capital, told Reuters that excess labor demand is declining and the labor market is rebalancing. For workers, this means less confidence in finding new employment outside their current jobs. For employers, it could mean tempering wage inflation.
To discover which industries are driving the job market, Stacker used data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover report to see which industries grew job openings in July and which saw open positions shrink. Industries are ranked by the percent change in job openings from July 2022 to July 2023. Monthly data is preliminary.
The bureau records job openings on the last business day of the month and calculates the rate as a percent of total employment plus job openings within the industry. Read through the list to gather a snapshot of the economic activity across categories—retail, health care, manufacturing, and more.
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#17. Manufacturing
– Total job openings, July 2023: 550,000
— Annual change: -335,000 (down 37.9%)
— One-month change: -30,000 (down 5.2%)
– Job openings rate: 4.1%
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#16. Professional and business services
– Total job openings, July 2023: 1.3 million
— Annual change: -750,000 (down 36.0%)
— One-month change: -198,000 (down 12.9%)
– Job openings rate: 5.5%
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#15. State and local education
– Total job openings, July 2023: 226,000
— Annual change: -114,000 (down 33.5%)
— One-month change: -62,000 (down 21.5%)
– Job openings rate: 2.1%
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#14. Finance and insurance
– Total job openings, July 2023: 343,000
— Annual change: -143,000 (down 29.4%)
— One-month change: +15,000 (up 4.6%)
– Job openings rate: 4.9%
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#13. Federal government
– Total job openings, July 2023: 128,000
— Annual change: -46,000 (down 26.4%)
— One-month change: -27,000 (down 17.4%)
– Job openings rate: 4.2%
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#12. Mining and logging
– Total job openings, July 2023: 26,000
— Annual change: -9,000 (down 25.7%)
— One-month change: -5,000 (down 16.1%)
– Job openings rate: 3.9%
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#11. Accommodation and food services
– Total job openings, July 2023: 1.1 million
— Annual change: -290,000 (down 21.4%)
— One-month change: +61,000 (up 6.1%)
– Job openings rate: 7.0%
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#10. Health care and social assistance
– Total job openings, July 2023: 1.6 million
— Annual change: -420,000 (down 20.7%)
— One-month change: -130,000 (down 7.5%)
– Job openings rate: 7.0%
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#9. Retail trade
– Total job openings, July 2023: 737,000
— Annual change: -183,000 (down 19.9%)
— One-month change: 0 (up 0.0%)
– Job openings rate: 4.5%
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#8. Arts, entertainment, and recreation
– Total job openings, July 2023: 163,000
— Annual change: -34,000 (down 17.3%)
— One-month change: +1,000 (up 0.6%)
– Job openings rate: 6.2%
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#7. Wholesale trade
– Total job openings, July 2023: 237,000
— Annual change: -32,000 (down 11.9%)
— One-month change: -32,000 (down 11.9%)
– Job openings rate: 3.8%
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#6. Transportation, warehousing, and utilities
– Total job openings, July 2023: 519,000
— Annual change: -52,000 (down 9.1%)
— One-month change: +75,000 (up 16.9%)
– Job openings rate: 6.7%
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#5. Educational services
– Total job openings, July 2023: 193,000
— Annual change: -17,000 (down 8.1%)
— One-month change: +20,000 (up 11.6%)
– Job openings rate: 4.7%
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#4. Real estate and rental and leasing
– Total job openings, July 2023: 153,000
— Annual change: -3,000 (down 1.9%)
— One-month change: +24,000 (up 18.6%)
– Job openings rate: 5.9%
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#3. State and local government
– Total job openings, July 2023: 607,000
— Annual change: +7,000 (up 1.2%)
— One-month change: -67,000 (down 9.9%)
– Job openings rate: 6.1%
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#2. Information
– Total job openings, July 2023: 260,000
— Annual change: +7,000 (up 2.8%)
— One-month change: +101,000 (up 63.5%)
– Job openings rate: 7.8%
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#1. Construction
– Total job openings, July 2023: 363,000
— Annual change: +10,000 (up 2.8%)
— One-month change: -23,000 (down 6.0%)
– Job openings rate: 4.4%
