- Total Canadian job postings on Indeed were up 52% on January 21, compared to early February 2020, down from a 66% increase on New Year’s Eve, likely primarily reflecting volatility in Canadian postings that’s fairly typical for the first week of the year.
- After dropping off during the first week of the year, new job postings on Indeed are once again being added at a strong pace, up 54% compared to its pre-pandemic rate.
- Overall, postings for the vast majority of occupations remain well above their pre-pandemic levels, with fields like software development, human resources, and nursing particularly standing out.
- While the pandemic’s latest wave probability isn’t the main driver of the recent dip, it’s likely contributed to an outsized drop in food services postings, which have fallen back to more normal levels after being quite elevated during the second half of last year.
As of January 21, total Canadian job postings on Indeed were up 52% from their February 1, 2020 levels, after adjusting for seasonal trends. Postings ended 2021 at an even higher level, but dropped off at the start of the year, an often volatile time for Canadian job postings (postings also dipped during the first week of 2021), and now stand where they did in late-October.
It’s unclear how much the pandemic’s latest wave contributed to the recent dip in postings. Nonetheless, the rate that new postings are being added to Indeed suggests overall hiring appetite remains in strong shape. As of January 21, the number of Canadian job postings seven days old or less on Indeed was up 54% from its pre-pandemic rate, after adjusting for seasonal trends, matching the average level that prevailed in November. This strong pace suggests job opportunities will remain plentiful to start the year, which could be important for workers whose jobs are disrupted by the pandemic’s recent economic impacts.
Job postings remain elevated across a wide range of sectors, though food services loses strength
Momentum in Canadian job postings has been mixed to start the year, with the volatility of hiring appetite concentrated among mid- and lower-paying occupations, similar to early last year, while several higher-paying job types were relatively unaffected. The economic spillovers from the Omicron wave are likely fairly limited in a number of sectors where postings dipped, like construction, as well as production and manufacturing. That said, job postings showed a particularly sharp fall in food preparation and service from extremely elevated levels during the fourth quarter, suggesting a drop in dining activity and public health restrictions likely has also reduced job opportunities.
Overall, despite recent volatility, Canadian job postings are well above pre-pandemic levels across the majority of occupational sectors. Demand is particularly exceptional in some areas, including banking and finance, software development, and nursing. Meanwhile, job postings in human resources are up by even more, as employers look for workers to both facilitate the hiring process, and navigate questions around the reopening for workplaces.
Meanwhile, job postings are well above their February 2020 levels similarly to the economy-wide trend across a range of sectors. These include areas like production and manufacturing, marketing, manufacturing, and customer service. Lastly, job postings are above pre-pandemic levels, but not to the same extent in several pandemic-exposed sectors, including food preparation and service, as well as hospitality and tourism. If last year’s developments are any indication, hiring appetite in these areas will likely surge once the public health situation is on a better footing.
The pandemic and its economic spillovers continue to change on a daily basis. We’ll be regularly updating this data as conditions evolve.
All non-vaccine related figures in this blog post are the percentage change in seasonally-adjusted job postings since February 1, 2020, using a seven-day trailing average. February 1, 2020, is our pre-pandemic baseline. We seasonally adjust each series based on historical patterns in 2017, 2018, and 2019. Each series, including the national trend, occupational sectors, and sub-national geographies, is seasonally adjusted separately. This week we applied our quarterly revision, which updates seasonal factors and fixes data anomalies. Historical numbers have been revised and may differ from originally reported values.
The number of job postings on Indeed.com, whether related to paid or unpaid job solicitations, is not indicative of potential revenue or earnings of Indeed, which comprises a significant percentage of the HR Technology segment of its parent company, Recruit Holdings Co., Ltd. Job posting numbers are provided for information purposes only and should not be viewed as an indicator of performance of Indeed or Recruit. Please refer to the Recruit Holdings investor relations website and regulatory filings in Japan for more detailed information on revenue generation by Recruit’s HR Technology segment.