The Great Resignation may have eased up a little in recent months, but with job openings near record levels, historically few layoffs and millions of Americans still quitting their jobs voluntarily each month, the balance of power in the U.S. labor market remains tilted towards the workers. In July, the number of job openings outnumbered unemployed Americans nearly 2 to 1, signaling excess demand in the labor market.
The leisure and hospitality sector, the industry most heavily affected by pandemic-induced layoffs in 2020, is now at the center of the worker crunch, as almost 1 in 10 positions in the industry remained vacant at the end of July. Despite 1.11 million hires in the leisure and hospitality sector, 1.52 million positions remained unfilled at the end of the month, as more than 800,000 leisure and hospitality workers quit their jobs in search for a better position elsewhere.
The following chart, based on data from the latest Job Openings and Labor Turnover Survey, shows which industries had the highest job openings rate at the end of July. The job openings rate is the number of job openings divided by all jobs, filled or unfilled, in a given industry. Aside from the hospitality sector, employers in professional and business services and education and health services had the most trouble finding personnel, while the fewest positions remained unfilled in construction, wholesale trade and the government.