Q3 2017 Regional Employment Trends In The United StatesComparing registration patterns of Opportunity members in the United States versus Q4 2016 statistics and unemployment trends posted by the Bureau of Labor Statistics.
A brief analysis of the registration patterns of new Opportunity members in the United States who have identified themselves as job seekers and hiring managers during Q3 2017. By examining these registration patterns we attempt to get a sense of the employment trends (supply vs. demand) happening within the different regions of the U.S. For this study we also compared these statistics to our previous study that examined employment trends in Q4 of 2016.
What We Found
Generally speaking, the largest numbers of job seekers entering the Opportunity business network are coming from the Northeast and West (34% and 28% respectively) - which is consistent with the most recent Bureau of Labor Statistics unemployment rates (Sept. 2017) showing both regions having the highest unemployment rates of 4.5% and 4.6% respectively. The Midwest on the other hand has the claim of having the least amount of job seekers joining Opportunity accounting for only 17% of new users (Sept. 2017 unemployment for the Midwest is 4.2%).
When looking back and comparing these numbers to Q4 2016 both the Northeast and West have witnessed the largest increase of job seekers over the past 9 months with 8% and 6% increases - again, consistent with trends shown by the Bureau of Labor Statistics showing both regions as having unemployment increases of around .02% each. Conversely, Opportunity has witnessed a 14% decrease in the number of new job seekers from the South joining our platform in Q3 2016 compared to Q4 2016 - confirming the Bureaus statistics showing an overall decrease in unemployment in the South from 4.7% to 4.0%
On the hiring side, the largest number of job openings being posted in Opportunity in Q3 2017 come from hiring managers in the West (36%) with all other regions accounting for an equal number of job postings (approx. 20%). Compared to Q4 2016, each region has experienced a shift in the number of jobs posted to Opportunity with 9% and 5% increases in the number of job openings in the West and Northeast respectively while the Midwest and South both saw a 7% decrease in the number of job posts.
# of people joining Opportunity as a Job Seeker
|Q4 2016||Q3 2017||9 Month % Change|
# of people joining Opportunity as a Hiring Manager
|Q4 2016||Q3 2017||9 Month % Change|
Difference between # of job seekers vs. # of jobs posted (Q3 2017)
|% job seekers vs. jobs|
|Northeast||7% more job seekers|
|Midwest||3% less job seekers|
|South||2% less job seekers|
|West||2% less job seekers|
Generally speaking, the level of activity among job seekers and hiring managers in the U.S. who are using Opportunity for employment purposes mirrors many of the trends being reported by the Bureau of Labor Statistics. In regions where the Bureau shows unemployment to be decreasing, the number of job seekers joining Opportunity from those regions is also less (or a decreasing %). Similarly, Opportunity has seen an increase in new job seekers coming from regions reported by the Bureau as having an uptick in unemployment (i.e more people looking for work) since Q4 2016. On the hiring side, similarities also emerge with regions experiencing a decrease in job postings also experiencing a decrease (or no change) in those looking for work compared to Q4 2016.
As far as the discrepancies between the current number of jobs being posted (offered) versus the number of people looking for work in each region, the Northeast appears to have the largest shortfall of jobs available to job seekers (7% difference) which, over time could have an adverse affect on wages (stagnation). All other regions appear to show a larger percentage of hiring managers posting jobs versus those looking for work - which is good news for job seekers in those regions and suggests that salaries may increase over time as the demand for a limited talent pool begins to force wages higher.
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