. Now the diet begins. The industry is in "belt-tightening" mode — with hiring freezes and even layoffs on the menu, she writes.
The industry's woes could be an early indicator of what's to come in the broader labor market, which has so far stayed strong despite other worrying signs in the economy.mean less demand for workers. It's also an indicator that folks won't be able to job-hop their way to the kind of sky-high pay increases certain professionals scored in 2021.
Not only are there fewer jobs on offer, but workers are nervous. "Amid increased fears of a possible recession, employees are prioritizing job security over pay," she writes.The five occupations that saw the biggest declines in demand were in areas where remote work really took off, including software development, marketing, and math-related roles .
There was a 27% decline in human resource job listings. "If you're looking to hire fewer HR people, that probably means you're looking to hire fewer people in general," says Nick Bunker, Indeed's economic research director for North America.While overall job listings are down 9% on Indeed this year, they're still 50% higher than pre-pandemic levels.Axios on facebook