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Mapped: America’s $2 Trillion Economic Drop, by State and Sector

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Change in GDP $2T Economic Drop

Mapped: America’s $2 Trillion Economic Drop

It only took a handful of months for the U.S. economy to reel from COVID-19’s effects.

As unemployment rates hit all-time highs and businesses scrambled to stay afloat, new data shows that current dollar GDP plummeted from nearly $21.6 trillion down to $19.5 trillion between Q1’2020 and Q2’2020 (seasonally adjusted at annual rates).

While all states experienced a decline, the effects were not distributed equally across the nation. This visualization takes a look at the latest data from the Bureau of Economic Analysis, uncovering the biggest declines across states, and which industries were most affected by COVID-19 related closures and uncertainty.

Change in GDP by State and Industry

Between March-June 2020, stay-at-home orders resulted in disruptions to consumer activity, health, and the broader economy, causing U.S. GDP to fall by 31.4% from numbers posted in Q1.

The U.S. economy is the sum of its parts, with each state contributing to the total output—making the COVID-19 decline even more evident when state-by-state change in GDP is taken into consideration.

StateReal GDP ChangeBiggest Industry DeclineIndustry Change
(p.p.)
Alabama-29.6Durable Goods Manufacturing-5.02
Alaska-33.8Transport and Warehousing-9.43
Arizona-25.3Accommodation and Food Services-4.2
Arkansas-27.9Health Care and Social Assistance-4.57
California-31.5Accommodation and Food Services-4.43
Colorado-28.1Accommodation and Food Services-3.85
Connecticut-31.1Health Care and Social Assistance-4.61
Delaware-21.9Health Care and Social Assistance-4.19
Florida-30.1Accommodation and Food Services-5.3
Georgia-27.7Accommodation and Food Services-3.43
Hawaii-42.2Accommodation and Food Services-18.85
Idaho-32.4Health Care and Social Assistance-4.49
Illinois-29.7Accommodation and Food Services-4.11
Indiana-33.0Durable Goods Manufacturing-6.74
Iowa-28.2Durable Goods Manufacturing-4.35
Kansas-30.3Durable Goods Manufacturing-4.42
Kentucky-34.5Durable Goods Manufacturing-5.41
Louisiana-31.4Accommodation and Food Services-4.72
Maine-34.4Accommodation and Food Services-7.09
Maryland-27.7Health Care and Social Assistance-4.18
Massachusetts-31.6Health Care and Social Assistance-4.73
Michigan-37.6Durable Goods Manufacturing-7.57
Minnesota-31.3Health Care and Social Assistance-4.55
Mississippi-32.9Health Care and Social Assistance-4.56
Missouri-32.1Health Care and Social Assistance-4.29
Montana-30.8Health Care and Social Assistance-5.67
Nebraska-31.0Transport and Warehousing-6.13
Nevada-42.2Accommodation and Food Services-15.62
New Hampshire-36.9Accommodation and Food Services-6.7
New Jersey-35.6Health Care and Social Assistance-5.33
New Mexico-28.3Mining, Quarrying, and Oil and Gas Extraction-4.4
New York-36.3Accommodation and Food Services-5.97
North Carolina-30.5Accommodation and Food Services-4.67
North Dakota-27.6Transport and Warehousing-4.94
Ohio-33.0Durable Goods Manufacturing-4.92
Oklahoma-31.1Transport and Warehousing-6.22
Oregon-31.9Accommodation and Food Services-5.81
Pennsylvania-34.0Health Care and Social Assistance-5.07
Rhode Island-32.4Health Care and Social Assistance-5.73
South Carolina-32.6Accommodation and Food Services-6.16
South Dakota-28.8Health Care and Social Assistance-5.44
Tennessee-40.4Health Care and Social Assistance-6.25
Texas-29.0Health Care and Social Assistance-3.13
Utah-22.4Transport and Warehousing-3.12
Vermont-38.2Accommodation and Food Services-8.52
Virginia-27.0Health Care and Social Assistance-3.59
Washington-25.5Accommodation and Food Services-4.39
West Virginia-29.6Health Care and Social Assistance-5.48
Wisconsin-32.6Durable Goods Manufacturing-5.17
Wyoming-32.5Transport and Warehousing-7.38
🇺🇸 U.S.-31.4Accommodation and Food Services-4.38

Note: Industry changes are reported in percentage points (p.p.) of total current dollar GDP between Q1 and Q2.

A total of 18 states took the biggest hit within the Accommodation & Food Services sector, which was also the industry that suffered the most nationally, dropping by 4.38%.

Highly dependent on tourism, Hawaii bore the brunt of decline in this industry with a 18.85% drop. According to The Economic Research Organization at the University of Hawaii (UHERO), a second wave of infections and expired financial assistance were behind this contraction.

Next, the Health Care & Social Assistance sector was most impacted in 17 states between the two quarters, falling the most in Tennessee (-6.25%).

The most resilient industry amid the pandemic was Financial Services. In the state of Delaware, home to major banks such as JPMorgan Chase and Capital One, the sector actually grew by 4.47%. However, Delaware’s GDP ultimately still fell due to contractions in other sectors.

Each Industry’s Worst Performing State

Looking at it another way, the worst-performing state by industry also becomes clear when the change in percentage points (p.p.) Q1’–Q2’2020 GDP contributions are measured. Of the 21 industries profiled, Nevada shows up in the lower end of the spectrum four times.

IndustryWorst-performing stateChange (p.p.)
Agriculture, forestry, fishing and huntingNebraska-4.99%
Mining, quarrying, and oil and gas extractionWyoming-5.76%
UtilitiesNebraska-0.33%
ConstructionNew York-2.02%
Durable goods manufacturingMichigan-7.57%
Nondurable goods manufacturingIndiana-2.65%
Wholesale tradeNew Jersey-3.35%
Retail tradeNevada-2.88%
Transportation and warehousingAlaska-9.43%
InformationCalifornia-0.88%
Finance and insuranceSouth Dakota-1.53%
Real estate and rental and leasingFlorida-2.00%
Professional, scientific, and technical servicesDistrict of Columbia-4.46%
Management of companies and enterprisesNevada-0.38%
Administrative/ support /waste management / remediationNevada-2.48%
Educational servicesRhode Island-1.47%
Health care and social assistanceTennessee-6.25%
Arts, entertainment, and recreationNevada-4.44%
Accommodation and food servicesHawaii-18.85%
Other services (ex. govt)District of Columbia-2.40%
Government and government enterprisesAlaska-4.19%

With many U.S. business leaders expecting a second contraction to occur in the economy, will future figures reflect further declines, or will states manage to bounce back?

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Markets

Mapped: The Industry Hiring the Most People In Every Country

The restaurant industry has the most vacancies in the U.S., followed by non-profit organizations.

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Mapped: The Industry Hiring the Most People In Every Country

Job searching can be challenging, especially when you are located in a region where your skills may not be in high demand.

This map illustrates which industry is hiring the most people in every country, based on LinkedIn job listings searched by Resume.io. This analysis only considers countries with 300 or more job listings and data is as of August 2023.

The Top Job Postings in America, Canada, the UK, and Australia

The restaurant industry had the most vacancies in the U.S., accounting for 7.9% of all job ads. It was followed by non-profit organizations with 5.6%, and motor vehicle manufacturing with 4.4%:

U.S. Industry by Job Ads% of Job Ads
Restaurants7.86%
Non-profit Organizations5.59%
Motor Vehicle Manufacturing4.41%
Software Development4.28%
Hospitality4.07%
Wellness and Fitness Services3.78%
Financial Services3.76%
Transportation, Logistics, Supply Chain, Storage3.61%
Internet Publishing3.59%
Defense and Space Manufacturing3.53%

According to the study, the trend in restaurant hiring is indicative of America’s return to eating out after the COVID-19 pandemic.

Meanwhile, hospitals and health care were Canada’s biggest potential employers, with almost 15% of all job ads. Retail came in second with 12.4%, followed by staffing and recruitment with 6.8%:

Canadian Industry by Job Ads% of Job Ads
Hospitals and Health Care14.82%
Retail12.45%
Staffing and Recruiting6.85%
Human Resources Services4.61%
IT Services and IT Consulting3.86%
Technology, Information and Internet3.75%
Financial Services3.53%
Manufacturing3.16%
Internet Publishing2.85%
Construction2.61%

In the UK, the construction industry had the most wanted ads with 9.2%. Britain’s construction industry has faced ongoing worker shortages, exacerbated by Brexit, which has prevented EU citizens from working in the UK without visas:

UK Industry by Job Ads% of Job Ads
Construction9.22%
Industrial Machinery Manufacturing6.03%
Education Administration Programs5.78%
Financial Services4.88%
Non-profit Organizations4.69%
Civil Engineering3.99%
Motor Vehicle Manufacturing3.62%
Accounting3.45%
Advertising Services3.43%
Hospitality3.36%

Just three sectors accounted for over 30% of the jobs available in Australia. Government administration was the sector hiring the most people (11.60%), followed by staffing and recruiting (10.8%) and hospitals and health care (10.2%):

Australian Industry by Job Ads% of Job Ads
Government Administration11.60%
Staffing and Recruiting10.81%
Hospitals and Health Care10.20%
Retail6.85%
IT Services and IT Consulting5.55%
Financial Services3.06%
Construction3.01%
Education Administration Programs2.68%
Human Resources Services2.54%
Software Development2.24%

Industry Hiring In Every Country by Job Ads in 2023

Across all countries, two sectors posted the most wanted ads in the most countries (28), staffing and recruiting and IT services and IT consulting. Healthcare and retail industries also appear among those in high demand.

CountryIndustry
🇦🇱 AlbaniaInternet Publishing
🇩🇿 AlgeriaBanking
🇦🇴 AngolaHuman Resources Services
🇦🇷 ArgentinaHuman Resources Services
🇦🇲 ArmeniaSoftware Development
🇦🇺 AustraliaGovernment Administration
🇦🇹 AustriaRetail
🇦🇿 AzerbaijanBanking
🇧🇭 BahrainStaffing and Recruiting
🇧🇩 BangladeshSoftware Development
🇧🇪 BelgiumStaffing and Recruiting
🇧🇴 BoliviaHuman Resources Services
🇧🇦 Bosnia and HerzegovinaSoftware Development
🇧🇷 BrazilTechnology, Information and Internet
🇧🇬 BulgariaIT Services and IT Consulting
🇰🇭 CambodiaHospitality
🇨🇦 CanadaHospitals and Health Care
🇰🇾 Cayman IslandsIT Services and IT Consulting
🇹🇩 ChadStaffing and Recruiting
🇯🇪 Channel Islands (Jersey)Financial Services
🇨🇱 ChileHuman Resources Services
🇨🇳 ChinaTechnology, Information and Internet
🇨🇴 ColombiaHuman Resources Services
🇨🇩 Congo (Democratic Republic of the)Hospitality
🇨🇷 Costa RicaIT Services and IT Consulting
🇭🇷 CroatiaIT Services and IT Consulting
🇨🇾 CyprusTechnology, Information and Internet
🇨🇿 Czech RepublicStaffing and Recruiting
🇩🇰 DenmarkRetail
🇩🇴 Dominican RepublicInsurance
🇪🇨 EcuadorIT Services and IT Consulting
🇪🇬 EgyptTechnology, Information and Internet
🇸🇻 El SalvadorHuman Resources Services
🏴󠁧󠁢󠁥󠁮󠁧󠁿 EnglandStaffing and Recruiting
🇪🇪 EstoniaTechnology, Information and Internet
🇪🇹 EthiopiaSoftware Development
🇫🇮 FinlandIT Services and IT Consulting
🇫🇷 FranceStaffing and Recruiting
🇬🇫 French GuianaIT Services and IT Consulting
🇬🇪 GeorgiaStaffing and Recruiting
🇩🇪 GermanyStaffing and Recruiting
🇬🇭 GhanaHigher Education
🇬🇷 GreeceTechnology, Information and Internet
🇬🇵 GuadeloupeTechnology, Information and Internet
🇬🇹 GuatemalaHuman Resources Services
🇭🇹 HaitiStaffing and Recruiting
🇭🇳 HondurasIT Services and IT Consulting
🇭🇰 Hong Kong (SAR)Financial Services
🇭🇺 HungaryIT Services and IT Consulting
🇮🇸 IcelandHigher Education
🇮🇳 IndiaStaffing and Recruiting
🇮🇩 IndonesiaHospitality
🇮🇶 IraqDefense and Space Manufacturing
🇬🇧 Ireland (Northern)Staffing and Recruiting
🇮🇪 Ireland (Republic of)Staffing and Recruiting
🇮🇲 Isle of ManHuman Resources Services
🇮🇱 IsraelSoftware Development
🇮🇹 ItalyRetail
🇯🇲 JamaicaStaffing and Recruiting
🇯🇵 JapanIT Services and IT Consulting
🇯🇴 JordanTechnology, Information and Internet
🇰🇿 KazakhstanIT Services and IT Consulting
🇰🇪 KenyaSoftware Development
🇰🇼 KuwaitDefense and Space Manufacturing
🇰🇬 KyrgyzstanIT Services and IT Consulting
🇱🇻 LatviaIT Services and IT Consulting
🇱🇧 LebanonTechnology, Information and Internet
🇱🇮 LiechtensteinStaffing and Recruiting
🇱🇹 LithuaniaIT Services and IT Consulting
🇱🇺 LuxembourgStaffing and Recruiting
🇲🇴 MacaoHuman Resources Services
🇲🇰 Macedonia (North)Technology, Information and Internet
🇲🇾 MalaysiaFinancial Services
🇲🇹 MaltaTechnology, Information and Internet
🇲🇶 MartiniqueTechnology, Information and Internet
🇲🇺 MauritiusFinancial Services
🇲🇽 MexicoIT Services and IT Consulting
🇲🇩 MoldovaInternet Publishing
🇲🇨 MonacoStaffing and Recruiting
🇲🇦 MoroccoIT Services and IT Consulting
🇲🇲 MyanmarStaffing and Recruiting
🇳🇵 NepalSoftware Development
🇳🇱 NetherlandsStaffing and Recruiting
🇳🇿 New ZealandStaffing and Recruiting
🇳🇮 NicaraguaIT Services and IT Consulting
🇳🇬 NigeriaHuman Resources Services
🇳🇴 NorwayStaffing and Recruiting
🇴🇲 OmanStaffing and Recruiting
🇵🇰 PakistanSoftware Development
🇵🇦 PanamaIT Services and IT Consulting
🇵🇬 Papua New GuineaStaffing and Recruiting
🇵🇾 ParaguayTelecommunications
🇵🇪 PeruHuman Resources Services
🇵🇭 PhilippinesIT Services and IT Consulting
🇵🇱 PolandIT Services and IT Consulting
🇵🇹 PortugalIT Services and IT Consulting
🇵🇷 Puerto RicoRetail
🇶🇦 QatarStaffing and Recruiting
🇷🇪 ReunionBusiness Consulting and Services
🇷🇴 RomaniaIT Services and IT Consulting
🇷🇺 RussiaTechnology, Information and Internet
🇸🇭 Saint HelenaSoftware Development
🇸🇦 Saudi ArabiaStaffing and Recruiting
🏴󠁧󠁢󠁳󠁣󠁴󠁿 ScotlandStaffing and Recruiting
🇸🇳 SenegalStaffing and Recruiting
🇷🇸 SerbiaIT Services and IT Consulting
🇸🇬 SingaporeStaffing and Recruiting
🇸🇰 SlovakiaIT Services and IT Consulting
🇸🇮 SloveniaTechnology, Information and Internet
🇿🇦 South AfricaStaffing and Recruiting
🇰🇷 South KoreaIT Services and IT Consulting
🇪🇸 SpainIT Services and IT Consulting
🇱🇰 Sri LankaIT Services and IT Consulting
🇸🇪 SwedenGovernment Administration
🇨🇭 SwitzerlandInternet Publishing
🇹🇼 TaiwanSoftware Development
🇹🇭 ThailandSoftware Development
🇹🇳 TunisiaSoftware Development
🇹🇷 TurkeySoftware Development
🇻🇮 U.S. Virgin IslandsIT Services and IT Consulting
🇺🇬 UgandaEducation Administration Programs
🇺🇦 UkraineSoftware Development
🇦🇪 United Arab EmiratesTransportation, Logistics, Supply Chain and Storage
🇬🇧 United KingdomConstruction
🇺🇸 United States of AmericaRestaurants
🇺🇾 UruguaySoftware Development
🇻🇪 VenezuelaConsumer Services
🇻🇳 VietnamSoftware Development
🏴󠁧󠁢󠁷󠁬󠁳󠁿 WalesConstruction

Which countries or industries stand out the most to you?

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