U.S. Employment Trends Outlook
|May 2011Simply Hired, Inc.|
Hiring slows nationwide.
Nationwide job openings declined slightly this month,dropping -2.6% month-over-month from April. Despite the decrease, job openingswere still up 26.1% from 2010. “Although job openings decreased a bit from last month,there’s no cause for alarm,” said Gautam Godhwani, CEO of SimplyHired.com. “Somemonths tend to be slow for hiring, and our site continues to see healthy numbers of joblistings despite that.”
Less openings in St. Louis, Cleveland & Akron.
While the majority of metros werestagnant or had declines in job openings, St. Louis (-8.7%) and Cleveland & Akron(-7.3%) proved to be particularly difficult job markets in May. The top employers in bothmetros had only 500 or less job openings, compared to over 3,000 job openings at thetop employer in Washington, DC.
Improvement in nationwide job competition.
The national job competition ratioimproved this month, dropping from 6:1 to 5:1. Though job growth slowed, many statesreported lower unemployment rates, which could account for the improved ratio.This improvement was also reflected in certain metros: Miami & Fort Lauderdale, LosAngeles and Grand Rapids dropped to 7:1, 5:1 and 4:1 ratios.
Retail and finance stay strong.
Although May proved to be a slow hiring month fornearly all industries and occupations, the two strongest sectors continued to grow. Jobopenings for retail salespersons increased 64.1% month-over-month and openings forfinancial specialists and accountants increased 34.8%.
Employment Impact: Summer Holiday
Travel hiring continues to decline.
Hiring in the travel industry continued to decreasein May, down another -15.4% after already dropping -15.6% in April. This continueddecrease is likely a sign of a sluggish summer travel season. Hiring in the relatedhospitality industry also decreased, down -3.1% (-1.9% in April).