- Demand for workers across the labor market is down, as overall postings have fallen 14.8% from October 6, 2022.
- Physicians & Surgeons and Therapy postings have posted gains, while all other healthcare categories have notched modest declines.
- Wage growth has cooled, but most healthcare categories are still above the labor market average.
Indeed job postings
The labor market slowdown continued through the third quarter of 2023, which is reflected in the Indeed Job Postings Index. As of October 6, job postings are down 14.8% from the same date last year. However, employer demand for workers is still elevated. As of October 6, the Indeed Job Postings Index remained at 127, meaning job postings are still 27% above their pre-pandemic baseline.
Healthcare job postings
Healthcare tends to hold up well even when the rest of the labor market is slowing, and that remains the case through the third quarter. Demand for Physician & Surgeon roles is quite healthy after recent increases, as postings are now up 12.3% from the same time last year. Pharmacy and Nursing job postings have continued to ebb, down 13.1% and 9.1%, respectively, from October 6, 2022.
Demand is also on the rise for Therapy roles, with postings 6.1% higher than the same time last year. Personal Care & Home Health postings are down 2.6% from October 6, 2022. Meanwhile, Medical Technician postings show declines closer to that of the rest of the labor market, down 12.4%.
Indeed data shows that pay growth is holding up rather well in healthcare. Wage growth in Dental, Personal Care & Home Health, Medical Technician, and Therapy postings remains above the overall labor market average of 4.3% year-over-year. Meanwhile, year-over-year wage growth for Nursing and Physician & Surgeons is below the labor market average.
For more labor market insights from the Indeed Hiring Lab, follow along on our blog at hiringlab.org.