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3 posts on "Labor Demand"
August 7, 2024

The Anatomy of Labor Demand Pre‑ and Post‑COVID

Richard Audoly, Miles Guerin, Giorgio Topa, and Roshie Xing

Decorative photo: Nurse taking a women's blood pressure at home.

Has labor demand changed since the COVID-19 pandemic? In this post, we leverage detailed data on the universe of U.S. online job listings to study the dynamics of labor demand pre- and post-COVID. We find that there has been a significant shift in listings out of the central cities and into the “fringe” portion of large metro areas, smaller metro areas, and rural areas. We also find a substantial decline in job listings in computer and mathematical and business and financial operations occupations, and a corresponding increase in job openings in sales, office and administrative support, food preparation, and especially healthcare occupations. These patterns (by geography and by occupation) are interconnected: the biggest declines in job listings by occupation occurred in the largest and densest geographies, and the strongest increases in job listings by occupation occurred in the smaller and less populated geographies.

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Posted at 7:00 am in Crisis, Employment, Labor Market, Pandemic | Permalink
March 30, 2022

How Have the Euro Area and U.S. Labor Market Recoveries Differed?

Thomas Klitgaard

Photo: Paris outdoor cafe with waiter

The initial phase of the pandemic saw the euro area and U.S unemployment rates behave quite differently, with the rate for the United States rising much more dramatically than the euro area rate.  Two years on, the rates for both regions are back near pre-pandemic levels. A key difference, though, is that U.S. employment levels were down by 3.0 million jobs in 2021:Q4 relative to pre-pandemic levels, while the number of euro area jobs was up 600,000. A look at employment by industry shows that both regions had large shortfalls in the accommodation and food services industries, as expected. A key difference is the government sector, with the number of those jobs in the euro area up by 1.5 million, while the government sector in the United States shed 600,000.

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Posted at 7:00 am in Euro Area, Labor Market, Pandemic, Unemployment | Permalink
September 4, 2014

Are the Job Prospects of Recent College Graduates Improving?

The promise of finding a good job upon graduation has always been an important consideration when weighing the value of a college degree.

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Posted at 7:05 am in Education, Labor Market, Student Loans, Unemployment | Permalink

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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