One year into the lockdowns and job posting numbers are looking exceptionally strong as businesses across all industries have ramped up hiring. This is according to labor market intelligence firm Greenwich.HR. The number of new job listings in the U.S. is currently 50 percent higher than 12 months ago — an exceptionally strong vote of confidence in the hiring outlook. Hiring demand is up sharply in the healthcare, supply chain, and services sectors. Demand for new employees in entertainment, hospitality, and financial services is improving sharply compared to late 2020, but remains below pre-pandemic levels. To see more detail, visit covidjobimpacts.greenwich.hr.
The surge in job listings, which started in early January, portends a strong jobs report for February, and also strong hiring numbers continuing into March and April.
"In January we predicted the strong uptick in job listings would start showing up in the February report," said Cary Sparrow, CEO of Greenwich.HR. "With year-over-year hiring rates up by 50 percent, businesses are sending a clear signal they're pushing into the recovery. Even the industries hit hardest by the recession like hospitality and entertainment are showing strong improvement over a couple of months ago."
Across the U.S., the number of new job listings is up in every region, with every state showing double-digit improvements compared to a year ago.
This week is significant because U.S. lockdowns began in mid-March 2020. "The first half of March 2020 was actually very strong for hiring, before lockdowns hit and hiring rates dropped sharply," said Sparrow. "So, being up 50% compared to a year ago shows significant demand on top of an already strong benchmark."
This analysis is based on job listing data from the week of February 22, 2021. Greenwich.HR tracks the hiring and pay behaviors of over 4.1 million organizations. Additional analytics of companies’ hiring patterns is available from Greenwich.HR through Yahoo Finance Premium. Not a subscriber? Start your free trial today.*