- Demand for workers across the labor market is down, as overall postings have fallen 17.3% from July 7, 2022.
- Postings in Retail-related categories have continued to fall.
- Retail and Food Preparation & Service wage growth is nearing its pre-pandemic level.
Indeed job postings
Through the first half of 2023, Indeed job postings have continued to reflect the cooling labor market. As of July 7th, job postings are down 17.3% from the same date last year. However, demand for workers remains quite strong. As of July 7th, the Indeed Job Postings Index rested at 127, meaning job postings remain 27% above their pre-pandemic baseline.
Retail job postings
Job postings for segments inside the Retail vertical are slowing, but not quite as fast as the overall labor market. Food Preparation & Serving and Retail postings are down 8.9% and 10.4% from July 2022. Hospitality & Tourism postings dropped 15.4% in the last year and now rest at their pre-pandemic level.
Indeed wage growth data, focused on employer-provided wages and salaries listed in the job posting, shows that pay growth in Food Preparation & Service and Retail has slowed dramatically from post-pandemic highs. Year-over-year wage growth in these categories now rests just below the labor market average of 5.3%.
For more labor market insights from the Indeed Hiring Lab, follow along on our blog at hiringlab.org.