We’ve all read or seen a lot about the unusual, even crazy, current state of the labor market. There are near all-time highs in quits rate and near all-time lows in the ratio of job openings to unemployed persons. So it is incumbent on us to do a quick check-in and see what types of occupations employers are seeking, in this crazy labor market. We also compare the latest “post-pandemic” job postings to an earlier, pre-pandemic time to show how demand in the labor market has shifted or seems to be shifting. Check out the chart below. As a quick orientation the blue bars represent total number of new job postings in metro Atlanta between December 2021 and May 2022, while the red bar represents the total number of new job postings in metro Atlanta between December 2018 and May 2019.
Source: Burning Glass/Labor Insight
Per usual, Software Developers are the most sought-after occupation, but you can see how much more in demand they are today than they were during this same time period three years ago. In fact, demand has increased for all the top 25 occupations employers are now seeking, another indication of the tight labor market we currently have. Yet as can be seen in the next chart, those occupations that have experienced the highest increase in relative demand are also those that typically pay the lowest wages. Thus, the labor market is particularly tight for lower-paying jobs.
Source: Burning Glass/Labor Insight