Business Brief
More workers chase fewer holiday jobs
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The number of people looking for work this holiday season is surging, a new report from the jobs site Indeed finds.
- But they'll be fighting it out for spots — the number of available jobs hasn't budged much from last year, Axios' Emily Peck reports.
Why it matters: A lot of these folks are looking to make extra cash to get through the holidays — a sign that rising costs are weighing on Americans.
By the numbers: The share of job seekers looking for seasonal work was up 27% from last year as of Sept. 30, per Indeed.
- Searches were 50% higher than in 2023 — and above pre-pandemic levels.
- Job listings, however, are up by only 2.7% from last year.
The big picture: Seasonal hiring in retail is expected to fall to its lowest point since 2009, when the U.S. when the U.S. was still struggling with the aftermath of the financial crisis, a report from Challenger, Gray & Christmas said last month.
- "Retailers are facing a lot of cost pressures, and many are uncertain about their sales, so they are being cautious over hiring," Neil Saunders, a retail analyst at GlobalData Retail, tells Axios. "This imbalance means seasonal jobs may be more difficult to come by this year."
- "The cost of living has pushed people to try and find additional jobs," says Cory Stahle, a senior economist at Indeed Hiring Lab.
Zoom out: The competition for seasonal jobs is the latest sign of cooling in the broader labor market, where demand for work is outstripping demand for workers.
- Companies aren't particularly eager to hire, given the economic uncertainties around policy, particularly tariffs.
Where it stands: 63% of seasonal jobs are in retail, with the rest in sales, food prep and driving, loading and stocking.
- Amazon said last week that it would be hiring 250,000 seasonal workers — the same as the past couple of years.
- Seasonal positions can ultimately lead to permanent roles. At Target, more than half of its holiday workers were offered positions last year, the company said.
Between the lines: Amazon alone accounts for nearly half of all holiday hiring in retail. Retailers added about 543,000 jobs in total in the last three months of 2024, per Challenger.
Yes, but: Job searchers might just be starting to look for work earlier — one way in which workers may be trying to get ahead of the competition, Indeed says.
The bottom line: It's beginning to look a lot like Christmas will be disappointing for those seeking to earn some extra spending money.