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 dive deeper into job postings trends in various B2B occupational categories. Finally, we focus on recent developments in tech and tech-related postings.
- All job postings on the Indeed site are down 7.7% over the past year
- Construction and Education & Instruction have added job postings since last year
- Wage growth remains strong with all B2B categories above 5% year-over-year
Indeed job postings
As we near the end of the fourth quarter of 2022, Indeed job postings have continued to reflect a cooling labor market. As of December 9, job postings are down 7.7% from the same time last year. However, demand for workers remains quite strong. As of December 9, the Indeed Job Postings Index registered at 148, meaning job postings remain 48% above their pre-pandemic base line.
Job posting trends for segments inside of the business-to-business vertical have continued to slow in step with the overall labor market. The most noticeable decline reflects the pullback in the tech sector, with Software Development job postings down 34.3% from the same time last year. Banking & Finance postings are down 22.3% from the same time last year while Insurance postings are down only 12.2%.
Other segments in the business-to-business vertical are showing signs of growing demand for workers. Construction and Education & Instruction job postings are both up from the same time last year, 5.9% and 11.1%, respectively. However, Production & Manufacturing postings are losing steam with the rest of the labor market, down 10.8% from this time last year.
Business-to-business wage growth
As the labor market has cooled this year employers have had to compete a bit less for workers, which is reflected in advertised wages. Recent data from the Indeed Wage Tracker show that wages across the labor market are growing at 6.5% year-over-year, down from their March 2022 high of 9%. Wage growth in segments inside of the business-to-business vertical has slowed as well. While all categories in the B2B vertical in November notched high wage growth, over 5% year-over-year, all but Education & Instruction have seen wage growth slow in the past six months.
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