- The hardest hit industries are, not surprisingly, those dependent on close personal contact or affected by public health closures: Recreation & Travel (-22.2% M/M SA), Wellness & Fitness (-20.9%), Nonprofit (-20.6%), Education (-18.9%), Retail (-18.6%), and Entertainment (-17.8%). We’re also seeing a significant decline in industries where purchases of bigger ticket items can be delayed: Real Estate (-19.7%), Durable consumer goods (-19.7%).
- The impact of the virus is also playing out differently in cities across the country. March hiring rates declined in all 20 of the cities we track, but slumped more than 10% month over month in four cities: Detroit, Philadelphia, Los Angeles and New York. Both Detroit and New York City are in states that have seen the most intense outbreaks of the pandemic so far, and Los Angeles’s dip may reflect its prominence in the entertainment industry.