The Indeed Hiring Lab tracks employment trends in the Business-to-Business (B2B) 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 B2B occupational categories. Finally, we focus on recent developments in tech and tech-related postings.
- Indeed job postings show that overall demand for workers remains strong but continues to edge down
- Job postings in most B2B segments remain flat
- Software postings led the labor market in declines in the four weeks up to July 22, as the tech sector cools
- Software Development and Insurance postings are receiving more interest from job seekers
Indeed job postings
So far this year Indeed job postings have shown signs of a slight cooling and this certainly extends into the third quarter of 2022. However, demand for workers remains quite strong. As of August 12th, Indeed job postings are 51.7% above their pre-pandemic baseline.
Focusing on the job posting trends for segments inside of the B2B vertical there is a bit of variation, but most segments mirror the overall labor market trend. Banking & Finance (78.7% above pre-pandemic baseline) and Insurance (59.9%) postings have lost ground over the summer, while Software Development postings (87.6%) descended even further.
Other segments in the B2B space also reflect the overall labor market trend. Education (up 55% from pre-pandemic baseline) and Construction (59.3%) job postings have moved sideways in recent months, while Production & Manufacturing (87.7%) has ticked down.
Tech job postings
As you might have noticed from headlines, press releases, and social media posts, the tech sector is experiencing some turbulence after several years of flying high. In the four weeks leading up to July 22nd, software development job postings experienced the largest drop in postings on the Indeed site, followed by other sectors such as Media & Communications and Human Resources.
Job seeker interest
The Indeed Hiring Lab’s Relative Job Seeker Interest measure gives a sense of how job seeker interest in different roles has changed over time. Job seekers have been showing less interest in Education roles throughout the summer.
Meanwhile, while job postings for Software Development continue to slide, job seekers remain quite keen on these roles. Job seeker interest in Software Development postings, as well as Insurance, have risen over the past few months.
For more labor market insights from the Indeed Hiring Lab, follow along on our blog at hiringlab.org.