Weekly Viz 2024-09-02
Monthly Job Openings Rate
The visualization dataset this week also comes from the U.S. Bureau of Labor Statistics. It is the job openings rate report on the Economics Daily. It shows the job openings rate in the past 10 years by the different industries.
My Visualization
I displayed each indistry as a line in the visualization, with the selected industry being highlighted in orange. This helps you to observe the general pattern, as well as comparing the trend of the specific industry against other industries.
Please notice that all the visualizations are designed for desktop view, so it is recommended to view them on a desktop device.
Insights
- We saw a decrease in job openings rate at the beginning of pandemic in late 2020, but it soon bounced back with a noticeable spike in 2021-2022;
- Along with the recent macrconomic trends (for example, the inflation and the interest rate hikes), the job openings rate started to decline after 2022. This is an indication of a cooling labor market;
- Among all the industries, the leisure and hospitality industry appear to always have the highest job openings rate, while the job openings rate of the mining and logging industry is often among the lowest.
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