- 604 The number of jobs available per 100k in New York, making it among the hardest hit states.
- 1.3K The number of jobs available per 100k in Hawaii, giving it the highest job availability ranking in the country.
- 34% The reduction in job postings nationwide since 2019
The COVID-19 pandemic has been a public health and economic disaster. Few alive have experienced this precipitous an economic decrease and while the unprecedented response has served to help flatten the curve, the nation has paid for it with many lives and livelihoods.
The economic impact can be measured in many ways: the GDP, stock market fluctuations, increases in unemployment claims, etc. However, one notable way to measure the health of the U.S. economy is to look at the number of job postings, and to analyze trend data to get a glimpse into the minds of those who will drive the economic recovery by putting people back to work.
Right now, it is looking bleak. According to recent reports, job postings nationwide have decreased 33.7% since 2019. There are one-third fewer jobs available than there were at this time last year, and there are nearly 4 times as many job seekers. However, hiring is still happening across the country and as states move to lift shelter-in-place restrictions, it is to be expected that job postings will increase as shops and businesses reopen.
While the growth curve of new business applications has been steadily increasing since 2013, the onset of the pandemic triggered a spike in new business creation that surpasses anything witnessed in the previous 15 years.
Business Creation By State
We analyzed the number of business applications made in each state during February 2020 and February 2021 for a year-on-year comparison. Mississippi saw the largest proportional increase, with a 103% rise in business applications. The growing appetite for entrepreneurship seems especially strong in the south, as Louisiana and Georgia joined Mississippi by ranking second and third respectively.
This table shows the number of new businesses created in each state in February 2020 and February 2021. It can be sorted by state, year, or percentage change.