US Job Openings Surging

Greenwich HR
· for Yahoo Finance Premium
·2-min read

65 Percent of Russell 3000 Companies Have Increased Job Openings In The Last 4 Weeks

Hiring activity in late July and early August has continued to pick up, with 65 percent of Russell 3000 companies advertising for more new job openings than in the previous 4 weeks. This is according to data from the labor market intelligence firm Greenwich.HR.

“During July, more companies began ramping up their hiring,” said Kevin Moldestad, Greenwich.HR Chief Revenue Officer. “The majority of companies across all sectors are increasing the number of open jobs. They’re responding to more relaxed lockdown restrictions, and they’re also developing more innovations to recover growth during the pandemic.”

The number of new job openings during the 4 week period ending August 2 increased by 9.2 percent compared to the prior 4-week period. Transportation and Utilities sectors saw the highest gains at 45% and 37% respectively, while Aerospace and Finance saw the number of new job openings drop.

Companies in the retail sector were among those showing the largest gains, with Kohl’s (KSS), Advantage Autoparts (AAP), and Lowes (LOW) leading in the number of new job openings.

The number of companies who are accelerating their hiring is also growing compared to the number of companies who are slowing down. Industrial Products leads in this respect, with 77 percent of component companies increasing their hiring rate, and only 18 percent pulling back.

28 Day Hiring Demand and Change in New Job Openings
28 Day Hiring Demand and Change in New Job Openings

This analysis is based on job listing data from all Russell 3000 companies. It includes data from over 764 thousand US job listings which were initially posted between June 8 2020 and August 2 2020. Greenwich.HR tracks the hiring and pay behaviors of over 3.4 million organizations. Additional analytics of companies’ hiring patterns is available from Greenwich.HR through Yahoo Finance Premium. Not a subscriber? Start your free trial today.*

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