The economic impact of the coronavirus pandemic is enormous and strikes every industry, but entertainment and the arts have seen a 70% drop in job postings in recent weeks.
On average, job postings across the United States fell 29% between the week of March 2 and the week of March 23, according to a Burning Glass Technologies analysis of job posting activity. This is in line with other reports of job losses and major increases in unemployment claims. But unemployment claims tell us about jobs that have been already lost. Job postings show how employers are bracing for the future.
By that standard, the retail industry, facing the staggering challenge of keeping Americans supplied when most are under stay at home orders, has seen only a modest decline of 11% in postings. (And companies like Amazon have increased hiring 533%).
The tourism and restaurant industries, represented by the Accommodation and Food Service category, has also received considerable media attention as travel stopped and restaurants closed. Job postings in this category have fallen 49%.
Arts, Entertainment, and Recreation, however, is taking an even bigger hit because it includes a lot of categories that involve people getting together in groups. The Bureau of Labor Statistics categories of Performing Arts, Spectator Sports, and Related Industries, Museums, Historical Sites, and Similar Institutions, and Amusement, Gambling, and Recreation Industries primarily includes activities that the public can’t participate in right now. (It is no surprise that our state-by-state analysis found Nevada suffered a 50% drop in job postings over this period).
Every industry is suffering. There are no exceptions, only relative levels of pain. But the data provides some insight into why, how and where that pain is distributed—and possibly provides a starting point for solutions for when the pandemic passes and recovery begins.