The coronavirus pandemic continues to take a toll on the job market, with new job postings falling 43% from the week of March 2 to the week of March 30.
It has been a month since the World Health Organization officially declared the COVID-19 outbreak a pandemic. Employers have not only been letting workers go but pulling back on posting new jobs as the U.S. and the world use social distancing measures to control the disease.
No region of the country is immune to the impact on job postings, but as in our previous analysis, there doesn’t seem to be any correlation between reported coronavirus cases and the scale of the posting decline. Instead, the key factor seems to be how dependent a region is on vulnerable industries, such as manufacturing and tourism.
For example, the top three states for reported COVID-19 cases have widely different declines in job postings:
· New York is down 49%
· New Jersey is down 30%
· And Louisiana remains the hardest-hit state, with a 75% drop in postings.
|State||Percentage decline in job postings, week of 3/2 compared to week of 3/30|
|District of Columbia||-27%|