U. S. Job Postings on Indeed 60 Percent Higher than Last Year
Job postings on Indeed are a real-time measure of labor market activity.
On January 21, 2022, they were 60.5% above February 1, 2020, the pre-pandemic baseline, after adjusting for seasonal variation.
Postings declined 0.1 percentage points in the past week, likely driven by the latest wave of the pandemic.
The full economic impact of the omicron surge will become clearer in the coming weeks, but new job postings (those on Indeed for 7 days or less) have also declined.
As of January 21, new postings are 67.2% above pre-pandemic baseline, dropping 10 percentage points since last week.
The Bureau of Labor Statistics reported 10.6 million job openings at the end of November in its latest JOLTS report. Job postings on Indeed increased 1.9% between November 30 and January 21. If JOLTS openings have grown since November 30 at the same rate as Indeed job postings, that implies 10.8 million job openings as of January 21.
Job postings in all occupational sectors are above pre-pandemic baseline, especially human resources and software development.
Pharmacy job postings, while similar to the economy average, have fallen 27.1% since December 24 as demand for COVID-19 vaccinations slows.
Food preparation & service, hospitality & tourism and arts & entertainment all declined over the last four weeks.
These occupational sectors are particularly vulnerable to the pandemic, as many of these jobs are in-person and serve in-person consumers.
Job postings are up in both in-person and work-from-home sectors, with high remote job sectors climbing the most as of January 21. That’s a change from the start of the pandemic, when low-remote postings recovered first and strongest. The early pandemic shift to remote work in the pandemic created jobs in occupations that supported the stay-at-home economy, like driving and warehouse jobs, that aren’t work-from-home jobs.