Ads for some of the typical summer jobs for students have plummeted compared to a year ago, in large part, because of social distancing and the economic slump, based on Chmura’s Real Time Intelligence on job postings. Yet there are some ads for jobs that have increased significantly from a year ago showing just how much this pandemic is changing the way we live.
Over the course of next year, employment in all industries should reach about 90% or more of pre-coronavirus levels with employment reaching its previous peak in the third quarter of 2022.
Chmura has created a COVID-19 Economic Vulnerability Index, developed by Dr. Chris Chmura and Dr. Xiaobing Shuai. The index gauges the negative impact the COVID-19 crisis can have on jobs in a region based upon the industries present in the area and their expected job losses. Accommodation and food services, for example, are projected to lose more jobs as a result of the coronavirus compared to utilities and healthcare.
Annual average wage growth in the Richmond metro area and the state has lagged that of the nation from 2010, the year after the recession ended, through 2018, the latest full year of data.