As we dive deeper into the summer, trends in the workforce continue to change around the country. While there are many promising signs, the labor shortage continues to present an issue for American business.
National Trends: From high quit rates to post-pandemic drops in workforce participants, the labor shortage is a problem that needs to be addressed. Currently there are around 8.1 million job openings nationwide, but there are only 6.6 unemployed workers available. The national labor force participation rate is also sitting at only 62.5%, a rate much lower than it was before the pandemic.
Shortages across industries: While all industries are seeing effects from the shortage, some are being hit harder than others. Quit rates in the Leisure/Hospitality industry are far higher than others, sitting at 4.3% nationally. Professional/Business Services are seeing the highest labor force shortage at around 50%
WY We Care: Wyoming is one of the states most affected by the labor shortage, with only 46 available workers for every 100 open jobs. The average national rate is much higher, with 76 available workers for every 100 open jobs. We have seen this impact in many places, including healthcare and education.
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