During the COVID-19 pandemic, millions of Americans lost their jobs and experienced financial difficulties due to unemployment. Now, for many employers, the shoe is on the other foot. Lots of businesses are struggling to hire enough workers, which has sometimes led to delays in services and reduced business hours. In fact, the labor force participation rate has experienced the slowest recovery of any recession since World War II. Some businesses aren’t even able to keep the employees they already have – as Americans are quitting their jobs at record rates in what’s been dubbed the “Great Resignation.”
In order to see where employers are struggling the most in hiring, WalletHub compared the 50 states and the District of Columbia based on the rate of job openings for both the latest month and the last 12 months.
States Where Employers Are Struggling the Most in Hiring
|Rank||State||Job Openings Rate (Latest Month)||Job Openings Rate (Last 12 Months)|
|51||District of Columbia||5.40%||5.03%|
In order to get more insight on the current labor shortage, WalletHub turned to a panel of experts. You can click on the pictures of the experts below to read their bios and responses to the following key questions.
- Why do employers have difficulties in filing employment positions?
- What are the main factors that are influencing the high turnover rates in the labor market?
- What will be the economic impact, if any, of this trend?
- How can employers attract and retain employees during this troubling period?
- In your opinion, will this imbalance in the labor market continue to be an issue throughout all of 2022 or will it get solved faster?
Ask the Experts
WalletHub compared the 50 states and the District of Columbia based on two metrics, the rate of job openings for the latest month and for the last 12 month. These metrics are listed below with their corresponding weights. WalletHub then used these metrics to rank-order the states and the District from those that struggle the most with hiring to those that struggle the least.
- Job Openings Rate (Latest Month): Double Weight (~66.67 Points)
- Job Openings Rate (Last 12 Months): Full Weight (~33.33 Points)
Sources: Data used to create this ranking were obtained from the U.S. Bureau of Labor Statistics.