New Job Postings Are Plummeting For White-Collar Professionals

A good way to gauge the health of the job market is to see how many new opportunities are listed online. Indeed, one of the largest job aggregation sites, released a report indicating the direction of new job postings in the United States. 

The job site’s data revealed a massive drop in listings during March, April and May—some of the most difficult months of the Covid-19 pandemic. At that time, job postings plummeted nearly 40% compared to the same period last year. 

According to Indeed, “The trend in job postings—a real-time measure of labor market activity— is 20.3% lower than in 2019, as of August 14.” Hospitality, travel, tourism, child care and other sectors that rely upon face-to-face activities saw job listings appreciably fall. 

What’s surprising to see is that white-collar job advertisements, such as software development, banking and finance, declined. Indeed claims that job postings for higher-wage occupations have taken the biggest tumble. “Postings in higher-wage occupations are now 28% below trend, versus 12% below trend for lower-wage occupations.”

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