April 2023
Claro Jobs Report
The Claro Jobs Report provides unique insights on the US labor market. The report, which is published monthly, uses data from Claro’s labor market intelligence platform.
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A mixed bag for job openings in the US
The Claro Analytics job posting data for the US shows a gradual decrease in the average number of job postings from January to April 2023. The monthly average in January was 6.92 million, which increased to 7.09 million in February. However, March saw a slight dip to 6.72 million, then picked up slightly in April to an average of 6.75 million. Despite the overall downward trend, the last week of April saw a slight increase in job postings to 6.87 million, indicating the jobs market is growing again after a period of instability.
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Steady rise in open roles in the homebuilding industry in the US
In the homebuilding industry, there was a steady increase in job postings between February and April 2023. In February, there were 1,900 job postings on average, which rose to 2,000 in March and further increased to 2,200 (+12.5%) in April. The increase in the number of open roles suggests home builders in the US are feeling optimistic about the economy. The persistently low supply of homes for sale and competition for talent in the housing market are the primary reasons for the elevated number of open roles.
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Top in-demand roles in homebuilding
The top five in-demand job titles in the homebuilding industry in the US are construction manager (average salary of$79,296), insulation installer (average salary of $40,237), sales consultant (average salary of $96,243), customer care representative (average salary of ($60,043) and sales representative (average salary of $67,043).
The top three home builder companies hiring in the US at the moment include TruTeam (average salary of $57,650) with 488 job postings, D.R. Horton (average salary of $75,632) with 338 job postings and Lennar Corporation (average salary of $70,053) with 254 job postings.
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Banking sub-industries see slight uptick in roles in the US
Notable hiring trends in diversified banks and regional banks show a similar trend of peaks and troughs over the past 12 months. Both sub industries peaked last Autumn, but then the number of open roles declined sharply at the start of 2023 before leveling off in April. However, the number of job postings in the diversified banks industry started increasing toward the latter end of April, which suggests the reverberations associated with the the collapse of the Silicon Valley Bank in March are starting to wear off.
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Confidence is lifting in life sciences in the US
The number of job postings in the life sciences industry continued to hover between the 6,500 and 7,300 mark in April. This follows a hiring peak at the end of 2022 when the open roles surpassed the 11,000 mark to reach 11,391. The data suggests organizations in this industry of feeling more confident about the economic situation now though as job postings started to rise again at the beginning of May. It will be interesting to see if this momentum is maintained throughout the summer months.
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Food service companies among those with the most open roles in the US
Food service companies feature heavily in the list of companies that have the most open roles in the US. Talent teams in this sector will likely find it easier to fill their open roles than they have over the past couple of years when many employees opted to leave the sector during the pandemic. The recent spate of layoffs in the US, however, means there is more talent available now.
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12-month low in job openings in pharmaceuticals in the US
The number of open roles in the pharmaceutical industry reached a 12-month low in April with 3,129 open roles. This was a significant drop from March when job postings surpassed the 4,000 mark in March (with 4,200). There is still a long way to go for this industry to reach the highs it experienced last year though when the number of job postings peaked at 10,937. The decline over the past 12 months does, however, coincide with the drop in demand for COVID-19 treatments and vaccines.
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