What industries need workers? Explore the differences in labor market activity.

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A worker steams a gloves in Pittards world class leather manufacturing company in Ethiopia's capital Addis Ababa, March 22, 2016. Picture taken March 22, 2016. REUTERS/Tiksa Negeri - RTSDHG9

What industries need workers? Explore the differences in labor market activity.

Through the use of “job openings and labor turnover survey data, this paper industry of job vacancies, employment and is a unique look at the left, then the industry is divided into higher vocational or low position and high or low recruiter. Study the relationship between data help points out differences between industry: some have higher turnover rates, some have lower turnover, some is easy to find the workers they need, so almost no vacancy at the end of the month, some need more workers than they could find. The authors also include the industry’s fill rate and rate of loss, and briefly look at the industry’s earnings. Analyzing labor mobility patterns by industry may be useful for job seekers and career changers as well as employers.

Where should new graduates find jobs? What about a career change? Which direction should career counselors and career placement plans guide customers? What statistics can government officials use to determine how to stimulate job growth? How do employers know if their turnover and worker needs are typical? The industry is different in terms of employee mobility, demand for workers and the ability to hire workers. Understanding the characteristics of labor mobility in different industries can help job seekers, helping their people, employers and government officials focus better.

Each data element in the “job vacancy and Labour turnover survey” (JOLTS) – job vacancies, recruitment and separation – provides information about the Labour market. However, more information is available when all three data elements are studied together. Job vacancy data tell us about the unmet needs of workers; Employment and dimission data provide information on Labour mobility. Industries with high turnover and fewer vacancies, such as construction, are easy to hire the workers they need. But, despite the hiring this month, the end of the month is still free of high turnover and high positions, such as professional and commercial services. Labor market weakness, labor demand downturn of the industry, such as health care, for the career change and choice of professional students may be a good choice, and develop training programs and lead the people into their officials can benefit from the understanding which industries. Therefore, the analysis of industrial demands and flows of workers may help those seeking work and those who seek to help or employ them.

Job vacancies and employment.

The study of job vacancies relative to positions shows a huge difference between industries. In some cases, employees (measured in a month’s process) are far more open (on the last day of the month); In other cases, the gap between them is small. For some selected industries, vacancies exceed employees. By analyzing the number of recruiters or the number of people in the industry, the benefits are small, because the industry is very different. Translate the number of recruiters and the number of recruiters into the number of recruiters (dividing the number of recruiters or recruiters by the number of recruiters) to make meaningful cross-industry comparisons. Figure 1 shows recruitment and job vacancy rates in various industries. For the United States (non-agricultural industry), the average employment rate in 2014 was about 91 percent. In several industries, the hiring rate is well above the average employment rate: construction; Art, entertainment and entertainment; And retail. In several industries, such as mining and logging, professional and commercial services, and accommodation and food services, the ratio of employees is somewhat higher than the vacancy rate. The specific industry in which vacancies exceed employment rates is information; Financial insurance; Health and social assistance; Federal government; State and local governments.

The first look at these industries raises many questions. Why is there a big difference between hiring and job vacancy rates in some industries, not others? What does the gap in any size mean, good or bad for the labor market and the economy? Why are there so few industries where hiring rates are higher than hiring? Are people looking for a job or looking for a replacement to be better able to successfully break into the high-opening or high-recruitment industry, or to hire more people than they want? Some of these questions can be easily answered, but others require further analysis. Before answering any questions, you need some definitions and background.

Definition and background

The bureau of labor statistics (BLS) has published monthly job opportunities, employment, retirement, layoffs and emissions from December 2000, and other departures and JOLTS estimates based on industry and region.

For JOLTS consider the work of “open”, must meet three requirements: there must be a specific job, whether or not to find the right candidate, work can begin within 30 days, and must work voluntarily disclosed outside the workplace. These requirements reflect the objective of the survey, which measures current job requirements, in which people looking for work outside the organization have a chance to be hired. The job vacancy is a stock measure that counts on the last working day of the month. As a result, the job vacancy measure represents a job vacancy advertised this month.

The employment data is intended to capture all employer-employee relations established within this month. Every time an employer brings in any worker, it is rented, including part-time, full-time and seasonal. It also includes rehires from people who have worked in the same organization. The number of employees is a traffic indicator used to summarize the work of all employees in the month.

The separation of data is similar to that of the employee, because the separation data includes everything that the employer relationship ends this month. JOLTS is divided into voluntary departures, involuntary redundancies and departures, and other departures (retirement, transfer and death or disability separation).

For hiring and leaving, we convert the rank (count) to the level of employment and multiply by 100. Therefore, this ratio shows the proportion of employment or turnover that month. Vacancy rate calculation method is slightly different, position vacancies divided by the total number of vacancies, employment number to 100. The vacancy rate according to the percentage of all potential jobs filled or unfilled are not fill in at the end of the month.

The above definitions and references have answered the question: why are there more vacancies than employees? Given the number of vacancies remaining on the last day of the month, the number of hiring is the cumulative number of all employees this month, and it’s worth noting that the number of hiring is outstripping the number of recruits. By 2014, there were only two industries with a higher opening rate than the hiring rate; In 2014, however, the average employment rate in 10 out of 18 industries was above average.

This article focuses on 2014, which is the year with the latest data. Since JOLTS does not make seasonal adjustments to the data in each industry, this article does not use seasonal adjustment data, and calculates the monthly average of each year according to the industry. For the remainder of this article, unless otherwise stated, the “rate” will be used as a brief reference to the average monthly rate for 2014.

Preliminary exploration industry

For the United States (gross domestic product), the average employment rate was 3.5% in 2014, with an average employment rate of 3.2%. Industries vary widely between these averages. The most significant different industries can be divided into four categories: (1) high recruitment and job vacancies, (2) low recruitment and high vacancy, (3) high and low vacancy recruitment, (4) low recruitment and job vacancies. Figure 2 shows the employment rate, job vacancy rate and employment level of various industries in a graphical way. The hiring rate is the horizontal axis, the vacancy rate is the vertical axis, the size of each industry bubble reflects the employment level of the industry.

High recruitment and high vacancy. In 2014, the industry with high employment rate and high vacancy rate was professional and commercial services (5.3,4.4) 3, accommodation and catering services (5.8,4.5). At the same time, the high ratio indicates that employees are more likely to be employed despite the strong employment.

Professional and commercial services include law, accounting, construction, engineering, computer and temporary assistance services. Economists see professional and commercial services as early warning signs of the coming recession, or early indicators of recovery. In the early stages of recovery, when employers need more workers, but are not prepared to hire new employees, they may hire temporary workers. Employment services, including temporary assistance to businesses, accounted for about 18 percent of employment in professional and business services in 2014. The average monthly employment service in 2014 was 38% higher than in 2009, the end of the recession. With more than 19 million jobs and high employment, professional and business services provide a wide range of opportunities for job seekers.

Staff turnover rates in the residential and food service industries are high and are affected by seasonal and business cycle changes. With high turnover and seasonal hiring, and as the economy has improved, hiring has reflected hiring. The high opening rates of accommodation and catering services suggest a modest growth sector, with employment rising only 3 per cent between 2013 and 2014.

Low employment rate, high vacancy rate. These industries need workers, but not for some reason: information (2.8,3.6), finance and insurance (2.2,3.7) and medical and social assistance (2.7,3.9). These industries may not be able to find qualified workers, or they may not provide enough pay to attract new employees. These industries may be interested in candidates with the right skills, and may offer job training programs for job seekers.

It is not obvious why the information industry companies and the financial insurance industry need workers. The information industry includes radio (radio and television), films and video, publications (magazines, books and newspapers), software publishing and telecommunications. The JOLTS sample size does not allow for more detailed industry details to see which information industry sectors have unmet needs. However, according to the BLS career outlook handbook, 6 predicts that many computer-related occupations will grow faster than average. Especially in the information industry, employment in the computer industry is expected to rise in software publishers and other information services. Finance and insurance include Banks (including mortgage processing), financial investments, insurance, trusts and funds (pensions, trusts and real estate). As the baby boomers age, they will need these services more, and the baby boomers who are employed in these jobs need to be replaced when they retire. Looking at the career outlook handbook, we found that in 2012-22, the number of financial analysts and personal financial advisers is expected to grow much faster than average.

The health care industry has a particularly high demand for workers, with more than 18 million jobs in 2014, with an average monthly employment rate of 3.9%. The bureau of labor statistics expects to add 5 million new health care jobs between 2012 and 2022. Compound annual growth rate of 2.6%, compared with the highest of all industries in the construction industry, (see table 1) due to an aging population, will need medical personnel: needs will increase the number of health care, replace the number of workers needed for the retired workers will also increase. Many of these jobs offer good pay, job security, and job portability. The BLS estimates that more than 296 years of career development and rehiring require doctors and surgeons and more than 1 million registered nurses to fill jobs in 2012-22. Many organizations, including the federal government, are offering university scholarships and grants to lure people into nursing. Many jobs in the health care industry require PHDS or specialized degrees, such as pharmacists and surgeons. As these occupations require years of education, supply may lag behind demand even as more people start training. However, not all upcoming health care jobs require a four-year college degree or professional degree. The work of a dental hygienist and a nuclear medical technician usually requires only an associate degree. Blood and dental assistants usually require only a few post-secondary studies or on-the-job training. Personal care assistants and family health aides don’t even need a high school diploma, but there are expected to be 1.3 million new jobs and jobs in 2012-22. Students who choose a field or career switch to find retraining will find opportunities in health care.

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