Jun 21, 2022 - Economy & Business

Growth in job postings has slowed in the tech and hospitality sectors

A waiter working at a restaurant in Alexandria, Virginia, on June 3.
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

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