Key Highlight
- Job postings up while job market struggles to find footing
- Hiring in tech, health care and business and professional services increasing
- Unemployment claims decreased slightly
Job Market Showing Signs of Life
Recent job postings are showing demand in fields such as health care, tech, warehousing and delivery, and professional services. Julia Pollak, a labor economist with ZipRecruiter, said, “There are clear differences between different industries…” but the job market is beginning to show signs of life.
AnnElizabeth Konkel, an economist with Indeed Hiring Lab, said that the industries that are hiring “…all tie directly back to the pandemic.” For example, the demand for pharmacists is up +23% compared with last year and demand for drivers has jumped +18%.
Regional Variables as Important as Industry Variables
Regional differences are as important as industry differences. In areas where many are working remotely such as Boston, Seattle, Washington and San Francisco, there have been fewer postings. In areas that serve the energy industry and manufacturing, postings are increasing.
ZipRecruiter economist Pollak said, “…activity is picking up. We’ve seen employers smash all of our expectations and show a great deal of exuberance.”
Unemployment Claims Fell Slightly as Did COVID Cases and Lockdown Restrictions
The US Labor Departmentindicated that last week’s unemployment claims dropped slightly in step with declines in COVID cases and lockdown restrictions.
813,000 new claims for state benefits came in, as did 335,000 new claims for the federal Pandemic Unemployment Assistance program.
These figures show significant improvement from numbers seen in most of December and early January.
Thanks to The New York Times.
