- After sliding 8% between May and September, Canadian job postings have remained stable since, standing 60% above their pre-pandemic level as of October 14, 2022.
- Postings for most low- and mid-paying job types have ticked up over the past month, while falling tech job postings have helped drive further declines in high-wage job postings.
The slide of Canadian job postings has paused, at least for now. Canadian job postings on Indeed fell gradually throughout the summer, slipping 8% between May and September, on a seasonally adjusted basis. However, they have held steady since, as of October 14, 2022 standing an elevated 60% above their pre-pandemic level. New job postings (those that have been on Indeed for seven days or less) have fallen a bit further than the headline trend, but have also stabilized, currently running 52% above their pre-pandemic pace.
Momentum weak in high-wage job types
Postings are down from early May across most occupations, though almost all remain well above pre-pandemic levels. However, recent developments have been more mixed. Low- and mid-paying job types have generally ticked up over the past month, including modest increases in driving, manufacturing, and food service sectors. Conversely, higher wage job types have continued to drop, led by plunging demand in tech-related roles. In particular, software development job postings have fallen quickly, down 27% from their exceptionally high peak in the second quarter of 2022.
Overall, job posting trends on Indeed suggest that the Canadian labour market’s momentum has cooled, but not dramatically. The economic outlook might be cloudy, but outside of a few sectors, hiring appetite is both elevated and holding up. This is good news for job seekers for the time being, while hiring conditions are likely to remain challenging for many employers. The outlook for six months from now, however, is less clear
All job postings figures in this blogpost 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. New job postings are posts that are 7-days old or less.
The number of job postings on Indeed, 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.