We hear it over and over again — this is a historically tight market for hiring. And with unemployment so low, it would make sense to think that everyone is facing hiring challenges. But the economy is complex, and blanket statements about difficulties being the same for all industries are rarely true. Such is the case with hiring in today’s market. Though some employers are certainly struggling to find talent, the challenges of filling open roles aren’t uniform across all industries and for some, hiring is relatively easier.
We sat down with Indeed economist Nick Bunker to learn more. We wanted to know which industries are facing the greatest hiring challenges right now and what this means for employers and job seekers.
What are the key findings?
There’s no doubt: low unemployment makes it harder for lots of employers. With fewer unemployed workers, it’s just harder to fill open roles. But Nick confirmed our suspicions, “Over time it’s gotten harder for everyone, but there are industries that are having a relatively easier time hiring.”
Nick used data from the Bureau of Labor Statistics to analyze how different sectors are feeling the labor market crunch. The hires per job opening numbers show how many hires are made for each available job in a month. So, for education and health services, for example, out of every 100 job openings, only 53 were filled that month.
Education and health services topped the list as the industry having the hardest time filling open roles. Contributing to this is one of the tightest labor markets in the U.S. — healthcare workers. Shortages among healthcare workers are largely due to increasing healthcare needs accompanied by the quickly retiring baby boomers that work in this field.
On the other end of the spectrum, we find industries like construction and leisure and hospitality, where employers are having an easier time filling roles, with more workers than available jobs. In the case of construction, it may be that recent increases in construction wages, compared to other jobs, have drawn more workers to the field.
What does this mean for employers?
Depending on what sector you’re in, your recent experiences with hiring may be very different. For some roles, employers are swimming in quality applicants, while for others it may feel like pulling teeth to get a qualified candidate to apply. Understanding what’s going on in your sector at large can help make sense of hiring efforts and know what to expect […]