A waiter working at a restaurant in Alexandria, Virginia, on June 3. Photo: Olivier Douliery/AFP via Getty Images
Growth in job postings has slowed in the tech and hospitality sectors, according to Indeed data reviewed by Bloomberg.
Why it matters: The decline in job postings suggests that companies may be reconsidering hiring for new positions in fears of a potential recession, Bloomberg writes.
The big picture: Those fears have recently rocked the stock market, with the S&P on track for the worst first-half performance since 1962.
- Despite those fears, 50% of CEOs polled by the Business Roundtable in a survey earlier this month said they are planning to increase employment levels in the next six months, down from 68% last quarter.
Yes, but: Though the pace of job postings in the hospitality sector has slowed, they’re still above pre-pandemic levels.
- Job openings were also near all-time highs and managers laid off the fewest employees on record in April.
Go deeper: Revoking job offers is an increasingly common cost-cutting strategy