Analysis of the US Labor Market: Worker Shortage in Majority of States
Today’s article is dedicated to analyzing the labor market in the United States of America. According to data from Visual Capitalist, there is a shortage of workers in almost all states in the USA. This means that the number of available specialists for every 100 open positions is not sufficient.
The greatest shortage of specialists is observed in the following five states: South Dakota, North Dakota, Nebraska, Maryland, and New Hampshire. In these regions, the number of available specialists for every 100 open positions is 35, 35, 40, 40, and 41, respectively.
However, there are also several states where competition for jobs persists. These include California, New York, New Jersey, Connecticut, and Washington. In these regions, the number of available specialists for every 100 open positions significantly exceeds the national average. In California and New York, this number is 110, in New Jersey it is 108, in Connecticut it is 102, and in Washington it is 101.
The labor market situation in the USA in 2023
Beautiful infographic by Visual Capitalist.
The overall data for the country is as follows: there are currently 9.8 million job openings and 5.9 million potential candidates. This means that, on average, there is a shortage of skilled workers in the country.
Table 1: Top 5 US states with a shortage of specialists
| State | Number of available specialists per 100 open positions |
|---|---|
| South Dakota | 35 |
| North Dakota | 35 |
| Nebraska | 40 |
| Maryland | 40 |
| New Hampshire | 41 |
Table 2: Top 5 US states with job competition
| State | Number of available specialists per 100 open positions |
|---|---|
| California | 110 |
| New York | 110 |
| New Jersey | 108 |
| Connecticut | 102 |
| Washington | 101 |
Table 3: General information about the US labor market
| Indicator | Value |
|---|---|
| Number of open positions | 9.8 million |
| Number of potential candidates | 5.9 million |
| Labor market situation | Shortage of professionals in most regions, job competition in several states (such as New York and California) |
- One of the main reasons for the labor shortage in some states may be attributed to low unemployment rates and rapid economic development. When the economy is thriving and unemployment is low, companies hire more employees than are being released. This leads to a shortage of skilled workers and an increase in competition among employers for the best specialists.
- Some states also attract more migrants and immigrants, which can exacerbate the labor shortage. This is because immigrants often seek employment in states with higher wages and more favorable working conditions, creating greater competition in the labor market. For example, this situation is observed in California and New York. These states are economic and financial centers, where many large companies and enterprises are concentrated. This creates a large number of job opportunities and attracts numerous specialists from across the country and even the world, leading to high competition for these vacancies.
- It is also worth noting that different states may have different specific requirements for the qualifications and education of workers. If a certain state requires more specialists with specific skills or education, the competition for such jobs will be higher.
- Furthermore, some states may attract specialists due to the presence of specific industries or enterprises. For example, the state of Washington attracts IT specialists due to the presence of major companies such as Microsoft and Amazon. This can also generate high competition for jobs in this industry.
Thus, in most states of the USA, there is a shortage of specialists for job positions, while in several regions, including California and New York, competition for jobs persists. This reflects the current situation in the American labor market.
