These industries had the biggest swings in job openings
These industries had the biggest swings in job openings
Job openings have been at some of their lowest levels nationally since February 2021, Bureau of Labor Statistics data shows. However, openings remain elevated compared to the two years before the COVID-19 pandemic, with 8.1 million open jobs at the end of May 2024—about 1 million above pre-pandemic levels.
While Americans still find themselves largely employed, their capacity to resign and switch jobs is quickly falling to levels before the Great Resignation, when the quit rate reached 3% at its peak in spring 2022. Across industries, employers continued adding jobs, upping employment by 272,000 in May, with the majority of gains in health care, government, and leisure and hospitality. The unemployment rate remained relatively consistent, measuring at 4%.
Excess labor demand is declining, and the labor market is rebalancing, Conrad DeQuadros, a senior economic adviser at Brean Capital, told Reuters. For workers, this means less confidence in finding new employment outside their current jobs. For employers, it could mean tempering wage inflation as demand for labor slows.
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 added jobs in May and which saw openings shrink. Industries are ranked by the percent change in job openings from May 2023 to 2024 and appear from the largest decreases to the largest increases. Monthly data is preliminary.
The BLS 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. The list below provides a snapshot of the economic activity across categories—retail, finance, construction, and more.
#18. Retail trade
- Total job openings, May 2024: 478,000
--- Annual change: -274,000 (down 36.4%)
--- One-month change: -16,000 (down 3.2%)
- Job openings rate: 3%
#17. Accommodation and food services
- Total job openings, May 2024: 771,000
--- Annual change: -374,000 (down 32.7%)
--- One-month change: -147,000 (down 16%)
- Job openings rate: 5.1%
#16. Transportation, warehousing, and utilities
- Total job openings, May 2024: 350,000
--- Annual change: -167,000 (down 32.3%)
--- One-month change: +16,000 (up 4.8%)
- Job openings rate: 4.7%
#15. Wholesale trade
- Total job openings, May 2024: 188,000
--- Annual change: -79,000 (down 29.6%)
--- One-month change: -1,000 (down 0.5%)
- Job openings rate: 3%
#14. Nondurable goods manufacturing
- Total job openings, May 2024: 174,000
--- Annual change: -54,000 (down 23.7%)
--- One-month change: +17,000 (up 10.8%)
- Job openings rate: 3.5%
#13. Information
- Total job openings, May 2024: 134,000
--- Annual change: -28,000 (down 17.3%)
--- One-month change: +24,000 (up 21.8%)
- Job openings rate: 4.2%
#12. State and local education
- Total job openings, May 2024: 295,000
--- Annual change: -47,000 (down 13.7%)
--- One-month change: +26,000 (up 9.7%)
- Job openings rate: 2.7%
#11. Construction
- Total job openings, May 2024: 339,000
--- Annual change: -38,000 (down 10.1%)
--- One-month change: +2,000 (up 0.6%)
- Job openings rate: 4%
#10. Mining and logging
- Total job openings, May 2024: 27,000
--- Annual change: -3,000 (down 10%)
--- One-month change: +3,000 (up 12.5%)
- Job openings rate: 4.2%
#9. Real estate and rental and leasing
- Total job openings, May 2024: 112,000
--- Annual change: -9,000 (down 7.4%)
--- One-month change: -32,000 (down 22.2%)
- Job openings rate: 4.3%
#8. Professional and business services
- Total job openings, May 2024: 1.5 million
--- Annual change: -112,000 (down 7%)
--- One-month change: +44,000 (up 3.1%)
- Job openings rate: 6.1%
#7. Arts, entertainment, and recreation
- Total job openings, May 2024: 151,000
--- Annual change: -5,000 (down 3.2%)
--- One-month change: 0 (up 0%)
- Job openings rate: 5.4%
#6. Private educational services
- Total job openings, May 2024: 184,000
--- Annual change: -6,000 (down 3.2%)
--- One-month change: -34,000 (down 15.6%)
- Job openings rate: 4.5%
#5. Health care and social assistance
- Total job openings, May 2024: 1.6 million
--- Annual change: -43,000 (down 2.6%)
--- One-month change: +78,000 (up 5%)
- Job openings rate: 6.8%
#4. Federal government
- Total job openings, May 2024: 176,000
--- Annual change: +2,000 (up 1.1%)
--- One-month change: +37,000 (up 26.6%)
- Job openings rate: 5.5%
#3. Finance and insurance
- Total job openings, May 2024: 325,000
--- Annual change: +25,000 (up 8.3%)
--- One-month change: +5,000 (up 1.6%)
- Job openings rate: 4.6%
#2. State and local government
- Total job openings, May 2024: 615,000
--- Annual change: +61,000 (up 11%)
--- One-month change: +117,000 (up 23.5%)
- Job openings rate: 6%
#1. Durable goods manufacturing
- Total job openings, May 2024: 428,000
--- Annual change: +63,000 (up 17.3%)
--- One-month change: +97,000 (up 29.3%)
- Job openings rate: 5%
