{"id":101,"date":"2020-12-04T08:39:06","date_gmt":"2020-12-04T08:39:06","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=101"},"modified":"2023-02-17T09:18:17","modified_gmt":"2023-02-17T09:18:17","slug":"pandemics-disparate-impacts-on-metro-employment-examined-by-yardi-matrix-in-new-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/pandemics-disparate-impacts-on-metro-employment-examined-by-yardi-matrix-in-new-report\/","title":{"rendered":"Pandemic\u2019s Disparate Impacts on Metro Employment Examined by Yardi Matrix in New Report"},"content":{"rendered":"

Hospitality sector is hardest hit, with nearly 4 million jobs lost to date<\/em><\/p>\n

SANTA BARBARA, Calif., Dec. 01, 2020 \u2013 The COVID-19 pandemic has been inconsistent in the way it has affected the U.S. employment market, creating a wide disparity between metro and job segments. This is the main conclusion of the latest special employment report from Yardi\u00ae Matrix<\/a><\/strong>. Leisure and hospitality was by far the biggest employment sector loser, with 3.8 million jobs lost. In contrast, only 1.8% of the jobs in financial services have been lost since the start of the pandemic.<\/p>\n

However, the overall impact varied greatly depending on the city. Metros with the best job performance include those with relatively small leisure and hospitality industries and those that have lost relatively few jobs in the segment (Indianapolis, for example, lost only 6.5%). One outlier, Austin, has added 8,200 professional and business services jobs and 7,300 financial services jobs since February.<\/p>\n

While the size of a metro\u2019s leisure and hospitality segment is a key in the extent of job losses, a more significant factor is how thoroughly the metro shut down to stop the spread of COVID. Few of the top 10 metros in the percentage of jobs lost since February are among the leaders in leisure and hospitality jobs, but all are at or above the average proportion of jobs lost in the segment. New York City, for example, has a relatively small leisure and hospitality segment (9.8% of all jobs), but a whopping 42.3% of those jobs disappeared.<\/p>\n

\u201cThe data does show hope for the future for the gateway metros that have been hard hit, because the core industries in those metros, such as finance and professional services, remain viable,\u201d states the report. \u201cOnce a vaccine is available and people feel safe going back to entertainment venues, restaurants and the like, gateway cities (like New York, San Francisco, Boston and Los Angeles) will have the ability to rebound.\u201d Gain all the insight of the national analysis in this special report<\/a><\/strong> from industry data leader Yardi Matrix.<\/p>\n

Yardi Matrix offers the industry\u2019s 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 matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n

About Yardi<\/strong><\/p>\n

Yardi\u00ae 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.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hospitality sector is hardest hit, with nearly 4 million jobs lost to date SANTA BARBARA, Calif., Dec. 01, 2020 \u2013 The COVID-19 pandemic has been inconsistent in the way it has affected the U.S. employment market, creating a wide disparity between metro and job segments. This is the main conclusion of the latest special employment […]<\/p>\n","protected":false},"author":463,"featured_media":170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24,23],"tags":[],"class_list":["post-101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix-research","category-studies-and-guides"],"yoast_head":"\nPandemic\u2019s Disparate Impacts on Metro Employment Examined by Yardi Matrix in New Report - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The COVID-19 pandemic has been inconsistent in the way it has affected the U.S. employment market, creating a wide disparity between metro and job segments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/pandemics-disparate-impacts-on-metro-employment-examined-by-yardi-matrix-in-new-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pandemic\u2019s Disparate Impacts on Metro Employment Examined by Yardi Matrix in New Report\" \/>\n<meta property=\"og:description\" content=\"The COVID-19 pandemic has been inconsistent in the way it has affected the U.S. employment market, creating a wide disparity between metro and job segments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/pandemics-disparate-impacts-on-metro-employment-examined-by-yardi-matrix-in-new-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-04T08:39:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-17T09:18:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Matrix_SpecialReport_COVID_Job_Losses_1200x628_Blog_Image_V2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Fiorilla\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul Fiorilla\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Pandemic\u2019s Disparate Impacts on Metro Employment Examined by Yardi Matrix in New Report - 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