US Job Postings on Indeed Hit Near 2021 Lows, Down 37% Since 2022
Indeed data shows US job postings fell 3.5% YoY in the week ending July 10, with new postings dropping 10.9% YoY. Vacancies are now just 1% above pre-pandemic levels, signaling further labor market softening.
US job postings on Indeed declined 3.5% year-over-year in the week ending July 10, nearing the lowest levels seen this year. Total postings have fallen 37.2% since April 2022 and are back to February 2021 levels.
Available vacancies are now only 1.0% above the pre-pandemic benchmark of February 2020. New job postings dropped 10.9% YoY, the weakest since early January, and are now 3.5% below February 2020 levels—extending a multi-year decline.
The data suggests the official BLS Job Openings and Labor Turnover Survey (JOLTS) may show further deterioration for June and July, as the US labor market continues to lose momentum.
Source: The Kobeissi Letter