The COVID-19 pandemic has notably impacted what kind of jobs are available and where, according to an analysis by the Federal Reserve Bank of New York. This shift could signal a long-term transformation in the geographic distribution of jobs.
Job listings have shifted away from city centers toward the fringes of large metro areas, smaller metro areas and rural areas. At the same time, computer and mathematical as well as business and financial operations occupations have gotten a boost for job openings in sales, office and administrative support, food preparation and healthcare occupations. The geographical and occupational shifts were interconnected, with the biggest declines in job listings by occupation occurring in the largest and densest geographies and the strongest increases in job listings by occupation occurring in the smaller and less populated geographies, according to the analysis.
The proportion of overall job listings originating from large central metros — counties with populations over 1 million at the center of a commuting area — decreased from about 46 percent of all listings before the pandemic to about 38 percent of all active job listings in the post-pandemic period. In contrast, large fringe metros — counties with populations over 1 million that commute to a large central metro — had stable job listings. The share of job listings in medium metros, small metros and micropolitan areas rose by about seven percentage points compared to the pre-pandemic period. This significant shift highlights a reallocation of labor demand away from the largest urban centers toward smaller and more peripheral areas, said the report.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.