According to data provided by the American job site Indeed, the number of job openings in 2023 will decrease by more than 15% compared to recent years, and employers' desire to hire will decline.
As of Dec. 29, 2023, job openings on the site were down more than 15% year-over-year, according to Indeed data shared with the Post.
Separately on Wednesday, the Labor Department said the number of job openings at U.S. employers hit its lowest level since the beginning of 2021, and the number of job separations fell as well. This is a sign that confidence in the job market is wavering.
Nick Bunker, an economist at the Austin, Texas-based job site, said only two sectors have seen year-over-year hiring increases: doctors and surgeons, while the other includes long-haul and delivery drivers. Driving, Nick Bunker, an Austin, Texas-based job site economist, told The Paper. post.
Bunker added that while job openings in all other sectors are “not as plentiful”, “there are still plenty of openings”, and while there are many year-on-year declines, job openings in most industries are where they were before the pandemic. It was pointed out that the increase compared to the level of
“Employers really wanted to increase employment.” [post COVID]. For the most part, they did, but now they are becoming less ambitious in many areas,” Bunker said. “That's why we're posting less.”
Indeed job indexThe study, which tracked job postings in early November 2023, showed an even gloomier decline of 22.5% from the peak on December 31, 2021, following the post-COVID-19 hiring frenzy.
For reference, at the beginning of 2022, job postings on Indeed surged nearly 70% year-over-year.
Since then, software developer job openings have reportedly taken the biggest hit, dropping by a staggering 51.3% from November 2022 to 2023, according to Indeed.
Things aren't much better in the U.S. human resources and communications departments, where positions have been cut by about 35% in each department.
The number of listings in IT Operations, Banking, Finance and Marketing also fell by approximately 33% across the three sectors.
Job openings for childcare workers have also declined over the past year, but data from Indeed shows that as of February 2020, they were still 46% higher at the end of 2023 than they were during the pandemic. It has been reported. Wall Street Journal.
Similarly, the number of job openings for food preparation and service roles declined throughout 2023, but increased by 23% from pre-pandemic levels.
And while last month's Labor Department figures showed job growth slowing, U.S. employers still managed to add a surprisingly strong 199,000 jobs in November. .
The job market cooling began in October, with payrolls increasing by just 150,000 jobs that month, a sharp drop from September's blockbuster 336,000-job gain, according to Bureau of Labor Statistics data. did.
The federal agency is scheduled to release its December jobs report on Friday.
Employers likely added 170,000 jobs in December, or more than 2.7 million jobs for the year, about a 40% increase over 2019's gains, according to economists surveyed by the Journal.
“If there is a recession [in 2024]the sectors likely to primarily decline are those more closely tied to discretionary spending, such as retail, food services, and hospitality,” Bunker told the news site.
Federal Reserve Chairman Jerome Powell also said, “We are in a time of severe labor shortages.'' [is] are behind us. ”
In December, Powell cited a number of indicators that the labor market has returned to equilibrium, including job openings, labor force participation and turnover, the newspaper reported.
Representatives for Indeed did not immediately respond to The Post's request for comment.
