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November Hiring Demand Builds Steam – Outlook for Early 2020 Hiring Strengthens

Joanna Kong
Yahoo Finance Premium
A "Now Hiring" sign advertising jobs at Best Buy hangs outside a store in Salem, New Hampshire, U.S., November 25, 2019. REUTERS/Brian Snyder

Demand for US jobs among Russell 3000 continued to grow in November, according to labor market intelligence firm Greenwich.HR. The number of open US job listings among Russell 3000 companies in November rose 115 percent compared to the same period in 2018. The number of open positions during November was 261 percent higher than the May 2019 levels. Construction and medical sectors led the growth. 

YoY comparison for monthly job inventory change
YoY comparison for November monthly job inventory change

“The outlook for hiring is much stronger as we close out 2019 than what we saw a year ago,” says Kevin Moldestad, COO of Greenwich.HR. “In November 2018 we saw companies slow their recruiting, which resulted in lower actual hiring in early 2019. Now we’re seeing all sectors significantly increase the number of US job openings, suggesting 2020 hiring should start strong.” 

This analysis is based on job listing data from all Russell 3000 companies. It includes data from over 3.3 million US job listings which were open during November 2018 and November 2019. Job listing trends precede hiring trends by 2-4 months.

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