US Retail and Hospitality Labor Market Update 2022 Q2
The Indeed Hiring Lab tracks employment trends in the Retail and Hospitality vertical, analyzing the latest Indeed and Bureau of Labor Statistics data. We look at overall labor market trends, and then dive deeper into job postings trends in various occupational categories. Finally, we look at the trends in the quits rate in the Leisure and Hospitality sector.
Indeed job postings
Overall employer demand for workers remains strong. As of April 8th Indeed job postings are 56.5% above their pre-pandemic baseline, but overall growth in labor demand has slowed in recent months.
Retail job postings
Job postings in the retail vertical have slowed as well. Hospitality & Tourism (24.7% above pre-pandemic baseline) and Food Preparation & Service (+41%) are mostly flat since late 2021, while Retail job postings (+33%) declined in the beginning months of 2022.
Quits tapering off
There are signs of easing in the Great Resignation as the quits rate across the labor market — and in the leisure & hospitality industry — has flattened out in recent months. This is particularly good news for recruiters in the hospitality space, where the typically-high turnover rate rose higher than that of the overall labor market in the recovery from the pandemic, placing even more burden on recruiters.
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Daniel Culbertson is an Outreach Economist at the Indeed Hiring Lab with a focus on the US labor market. Daniel previously specialized in regional analysis and forecasting as an economist with Moody’s Analytics and holds a M.A. in economics from the University of Delaware.