- All job postings on the Indeed site are down 15% over the past year
- Postings in Retail and Hospitality segments have continued to cool off
- The Retail trade quit rate has declined to its pre-pandemic level
Indeed job postings
Through the first quarter of 2023, Indeed job postings have continued to reflect the cooling labor market. As of April 7th, job postings are down 15% from the same time last year. However, demand for workers remains quite strong. As of April 7th, the Indeed Job Postings Index registered at 133, meaning job postings remain 33% above their pre-pandemic base line.
Retail job postings
Job postings for segments inside the Retail vertical are slowing in step with the overall labor market, with Hospitality & Tourism — down 17.8% — showing the largest decline over the past year.
Meanwhile, Retail and Food Preparation & Service job postings have fallen a bit more modestly, registering declines of 10.4% and 10.3%, respectively, from the same time last year.
Retail employers may have noticed some slowdown in worker churn. The Retail trade quit rate rose to an all-time high near 5% during the recovery from the pandemic, but has since declined back to its pre-pandemic level. However, the quit rate for the Leisure & Hospitality industry remains near its post-pandemic high as workers continue to capitalize on the high number of job opportunities as these workers stay in demand.
For more labor market insights from the Indeed Hiring Lab, follow along on our blog at hiringlab.org.