U.S. Job Postings End 2020 Well Below Pre-Pandemic Levels

The variety of help-wanted advertisements elevated extra slowly in December, proof the labor market is dropping momentum amid rising coronavirus circumstances.

Available jobs posted on-line had been down 10.6% on the finish of December from a yr earlier, in line with job-search website Indeed’s measure of job posting trends. Postings rose from the top of November, when the variety of obtainable jobs had been 11.8% beneath 2019’s pattern, however the tempo of enchancment has eased because the summer season, when companies began to reopen after spring lockdowns. Indeed measures postings by evaluating the current charge of development to that of a yr earlier.

January is often a powerful month for job openings, however this yr could also be completely different, mentioned Nick Bunker, economist at Indeed. Economists notice employers providing in-person providers, reminiscent of eating places and hair salons, are facing renewed restrictions and weaker demand.

Further, some employers in higher-wage sectors reminiscent of software program growth and finance are holding again on posting new jobs because of an unsure outlook, Mr. Bunker mentioned.

“They are still thinking about what’s going to happen in the medium term or long term for economic growth,” he mentioned.

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