In the most recent edition of our quarterly Economic Indicators Report, we see promising signs of recovery from the coronavirus pandemic. The fourth quarter of 2020 saw an increase in active job listings and a decrease in volatility. Overall, total active job listings increased more than 6% in Q4. This is almost an exact flip from the same period in the previous year–Q4 2019 saw active job listings down 5%. At the state level, the quarter showed widespread positive movement. An impressive 49 states saw gains over the quarter, leaving South Dakota as the only state with a loss in active listings.
2020 saw nationwide job listings down 2% year-over-year. Surprisingly, given the overall economic turmoil incited by the pandemic, just 5 months last year saw decline, while 7 months showed growth. At the lowest point job openings were down 27%, but by the end of 2020 jobs were back up to 67% of pre-COVID levels.
2020 had one last dance move to bust out, and it will change the way you look at robotics, and think about the future. Boston Dynamics robots are dancing like no one is watching (though we know Elon Musk is keeping close tabs). The company’s fleet of robots are specializing and mastering new skills, and they are starting to sell. Their intimidating Spot the dog robot is currently up for grabs for $74,500 (with 400 already sold).
Election night last month left many with more questions than answers. But when the votes were counted, there was one clear winner: legal cannabis. In what many industry experts have dubbed the “green wave,” voters cleared cannabis for adult use in Arizona, Montana, New Jersey, and perhaps most surprisingly, South Dakota.
The air is electric as innovative automaker, Tesla, prepares for listing on the S&P 500 on December 21st. Adding the $555 billion company, which is prone to huge swings in price, is expected to trigger a massive $100B in trade. So big is the potential impact, S&P is considering the atypical move of adding the stock over multiple days to temper the effects.s.
In true 2020 fashion, just a few short months have brought dramatic changes in the labor market. Job listings have shifted from a gradual slowdown to a steady downhill slide. While the -4% decline in job listings we saw in November is the first drop in total job listings since recovery began in May,
We are way behind schedule getting our non-farm payroll (NFP) forecast posted this week, and we’ll publish a bunch of additional job market data for November over the next few days, but in order to get our NFP forecast published as quickly as possible, we’ll truncate the number of charts (as well as accompanying commentary) to the two tables below.
The rumor mill began churning last Thursday with rumblings that software giant Salesforce had interest in acquiring work tools company, Slack. Official news is expected soon – and we all wait with bated breath to see how this will impact our inter-office GIF strategies.
For what feels like the first time since 2020 began, there is good news on the horizon. Less than one year since the novel coronavirus changed our world, several vaccines boasting impressive efficacy are nearly ready to go to market, and even more are in the works.
As coronavirus continues to spark volatility in the U.S. economy, LinkUp’s jobs dataset provides unique insights into COVID-19’s impact on the labor market. In the most recent edition of our quarterly Economic Indicators Report, we observe a labor market edging toward recovery from the devastating hits doled out by the pandemic.
Overall, October job listings appear to mirror the modest increases we witnessed in September. The most striking change can be seen in created job listings which were up 6% in October, after a flat September. Deleted job listings largely held steady, finishing the month at 12%, just slightly above September’s increase of 11%.
The impact that coronavirus has had on our working lives in the last 8 months has been truly staggering. For a large portion of the workforce, the pandemic has brought about changes that range from a move to remote work to reduced hours or job loss. These massive shifts have left many struggling to find their footing amid an uncertain new reality.
U.S. job openings on company websites globally rose 6% in October, continuing the steady recovery in U.S. labor demand that began in May. New Job listings posted to company websites rose 13% while the number of jobs removed from company websites, either because the jobs were filled or the employer no longer intended to fill the opening, rose 21%.
In recent weeks, the term “K-shaped recovery” has been popping up with increased frequency; used by political figures, economists and media personalities alike. Investopedia, in short, defines a K-shaped recovery as when “different parts of the economy recover at different rates, times, or magnitudes.”
Typically this time of year finds our analysts at LinkUp pouring over our jobs data to get a preview of holiday labor demand. Generally, we’d be looking at when seasonal hiring begins, who is doing the most hiring, and what all this might mean for holiday retail. But if we’ve learned anything over the past months, it’s that 2020 is anything but typical.
While U.S. job openings on company websites globally rose 2% in September, continuing the steady recovery in U.S. labor demand that began in May, the rate of increase was the slowest in the past 4 months.
To say that 2020 has been a year like no other would be a staggering understatement. Our health, well being and livelihoods have been stress-tested in ways we couldn’t have imagined just one year ago. In order to make sense of the chaos, and search for some sign of light at the end of the tunnel, we took a deeper look at our jobs data to see what it can tell us about the labor market and economy amid the global pandemic.
Back in July, LinkUp wrote an article testing the hypothesis that government stimulus was preventing workers from returning to work. The prevailing narrative was that some workers were receiving more compensation through the CARES Act than they would by returning to many low-paying jobs, so those workers were opting out and low-paying jobs were going unfilled. In our article, we concluded that LinkUp’s data did not support this claim at that time.
As we mark half a year of grappling with COVID, one industry that has weathered major turmoil is Food Service. Looking at the data to determine the shape of the industry today, we see both positive and negative signs. Noted in our recent monthly recap, Accommodation and Food Services was the industry that saw the biggest decline in August, down -9.29% for the month. (Utilities was the only other industry down, while the other 87% of industries saw improvement.)
As Labor Day closed the books on what is arguably the strangest summer in modern history, we decided to take a peek in the rearview mirror and recap what happened over the last 90 days (or was it 90 years? What is time anyway?!?)