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Job Postings Are Down, Why?

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Job Postings Are Down, Why? 

Job postings in 2020 are 20.2% lower than in 2019 as of August 28th.

Hospitality and Tourism Have Been Hit The Hardest.
Postings in occupations directly affected by the coronavirus like hospitality, tourism, and sports are still more than 40% below last year's trend. Postings are also far below last year’s trend in many higher-wage office sectors, like software development, banking, and finance.
Services like food prep and childcare haven’t recovered as much as driving and retail jobs.
In goods-related sectors, job postings are approaching last year’s levels. Loading, stocking, construction, retail, and driving postings are within a few percentage points in comparison to their postings last year.

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Higher-wage occupations job postings have fallen the most. At first, postings in higher-wage occupations fell less than those in middle and lower-wage occupations, but have continued to fall while the others have begun leveling off. They are now 27% below what they were in 2019, while lower-wage occupations are only 13% below what they were in 2019.
The Bureau of Labor Statistics data through mid-July shows that lower-wage industries have lost the most jobs in the pandemic, by a large margin. Proving that the pattern in job postings is different from the trend in employment. Lower-wage industries have been making week-to-week and month-to-month changes in staffing their workforces based on demand. The reason for higher-wage workers stability is because it is oftentimes more expensive and takes longer to fire and hire these types of workers in comparison with lower-wage workers. The industries like tech and finance which hold many higher-wage employees might plan their budget and budgetary restrictions based on projections for long term demand in future quarters and years.

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The Bureau of Labor Statistics data through mid-July shows that lower-wage industries have lost the most jobs in the pandemic, by a large margin. Proving that the pattern in job postings is different from the trend in employment. Lower-wage industries have been making week-to-week and month-to-month changes in staffing their workforces based on demand. The reason for higher-wage workers stability is because it is oftentimes more expensive and takes longer to fire and hire these types of workers in comparison with lower-wage workers. The industries like tech and finance which hold many higher-wage employees might plan their budget and budgetary restrictions based on projections for long term demand in future quarters and years.

Where have job postings declined the most?

Tourism and travel destinations took the hardest hit when it comes to job postings. Although, in hospitality hubs such as Miami or Las Vegas, postings have begun picking back up. In hubs where jobs can be done from home, postings in retail, restaurant, and service jobs have continued to decline.

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The information this article is based on is publicly available information on the Indeed United States website. This is not a projection for future events, and includes both paid and unpaid job solicitations.


Job Postings Are Down, Why?
Jake Tilk

Jake is the Digital Marketing Manager for OptyConnect and Healthcare Consultant. He holds a B.B.A. in Marketing with a minor in Business from Western Michigan University and has a certification in Software Development.

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