Special Report: Finding Durable Employment Sectors During a Pandemic, from Yardi Matrix

Researchers dove into the data to find out which
sectors and regions will be hardest hit

SANTA BARBARA, Calif.,
May 28, 2020 – Each week’s
news seems to bring a new wave of devastation for the U.S. employment market,
as unemployment claims continue to climb due to the COVID-19 pandemic. The
national unemployment toll was 36.5 million jobs lost when this was written –
by the time you read it, that figure will likely be higher.

Yardi Matrix® dove into the unemployment data to find out
which sectors and geographic regions are hardest hit, which will hold up and
where the unemployed may want to look for their next opportunity.

Unlike past
recessions, job losses have not been spread across the economy. Layoffs and
furloughs have been concentrated in segments most affected by shelter-in-place
orders: retail, leisure, travel and entertainment, and jobs in which social
distancing is difficult.

Between February
and April, leisure and hospitality jobs contracted by a jaw-dropping 48.1%, or
8.1 million workers. Other hard-hit segments include other services (-21.9%), a
category that includes personal services and repairs, retail trade (-13.7%) and
construction (-12.7%).

The number of
lost jobs has been higher among hourly, service-based workers than for career
workers who more easily can work from home. On a proportional basis, job
categories that shed the fewest jobs over the last three months are financial
activities (-2.8%), government (-4.3%) and wholesale trade (-6.2%). Another
segment that lost relatively few jobs was professional and technical services (-5.3%),
which includes computer systems design services (-3.8%).

“This report
provides in-depth insight to the most durable employment sectors, both
professionally and geographically,” said Jeff Adler, vice president of Yardi
Matrix.  Find the full Durable Employment Sectors
report from Yardi Matrix.

Yardi Matrix offers the industry’s
most comprehensive market intelligence tool for investment professionals, equity
investors, lenders and property managers who underwrite and manage investments
in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial,
office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi^® develops and
supports industry-leading investment and property management software for all
types and sizes of real estate companies. Established in 1984, Yardi is based
in Santa Barbara, Calif., and serves clients worldwide. For more information on
how Yardi is Energized for Tomorrow, visit yardi.com.