Companies Desperate for Employees Are Dropping Their Hands on Job Opportunities: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief straight to your inbox every Monday through Friday before 6:30 a.m. ET. Subscribe

Thursday 22 July 2021

Urgent offers are on the rise.

Hiring can be a challenging process.

In recent months, we’ve written about the plethora of open jobs in America, the impact retirements have had on the workforce, and the higher wages companies are offering to make up for labor shortages.

And a new job site Indeed report published on Wednesday shows that employers, in greater numbers, are beginning to signal to potential employees that time is of the essence.

“The proportion of job openings using words like ’emergency personnel’ has increased by more than 50% since the beginning of the year,” said Jed Kolko, chief economist at Indeed. “While job openings have been steadily recovering since last summer, urgent hires have been reported with increasing frequency in recent months.”

The number of companies that say they are urgently hiring new people has risen sharply in recent months as demand for labor continues to outpace supply. (Source: Indeed)

Of course, as this chart makes clear, we still see “urgent hiring” mentioned in a significant minority of job postings. And that is as you would expect: after all, hiring is a negotiation. And starting that conversation from a weak point is a last resort.

But Indeed’s report also shows that the number of job openings on its site continues to rise.

There were 36.5% more job postings on the Indeed site on July 16 than on February 1, 2020. The rate of increase in the number of job postings posted to the site has slowed in recent months, but the demand for it as a continuous line on recent labor data, even if the frictions within the market abound – continues to outpace supply.

All of this suggests that as more job openings are posted to the platform, the patience employers have to let those job openings go unfilled for months is beginning to wane.

Indeed’s report also notes that approximately 4.3% of job openings advertise some kind of hiring incentive, more than double the 1.8% seen a year ago. And like the comments that companies are “urgent hiring,” these incentive mentions gained momentum in the spring and summer of 2021, illustrating that workforce demand remains high.

Another “good problem” the US economy is currently facing.

Through Myles Abroad, reporter and anchor for Yahoo Finance Live. follow him up @MylesUdland

Yahoo Finance Plus

Try Yahoo Finance Plus now.

What to watch today?

Economy

  • 8:30 a.m. ET: Chicago Federal Reserve National Activity Index, June (0.30 expected, 0.29 in May)

  • 8:30 a.m. ET: First unemployment claims, week ending July 15 (350,000 expected, 360,000 during previous week)

  • 8:30 a.m. ET: Ongoing claims, week ended July 10 (3,100 million in prior week)

  • 10am ET: Leading Index, June (0.8% expected, 1.3% in May)

  • 10 a.m. ET: Existing Home Sales, June (5.90 million expected, 5.80 million in May)

  • 10 a.m. ET: Kansas City Federal Reserve Manufacturing Activity Index, July (25 expected, 27 in June)

Income

Presale

  • 7 a.m. ET: AT&T (T) is expected to report adjusted earnings of 79 cents per share on revenue of $42.76 billion

  • biogen (BIIB) is expected to report adjusted earnings of $4.48 per share on revenue of $2.62 billion

  • US Airlines (AAL) is expected to report adjusted losses of $1.72 per share on revenue of $7.48 billion

  • Domino’s Pizza (DPZ) is expected to report adjusted earnings of $2.87 per share on revenue of $975.16 million

  • The Blackstone Group (BX) is expected to report adjusted earnings of 79 cents per share on revenue of $1.88 billion

post-market

  • Intel Corp. (INTC) is expected to report adjusted earnings of $1.07 per share on revenue of $17.82 billion

  • Alaska Air Group (ALK) is expected to report adjusted losses of 42 cents per share on revenue of $1.52 billion

  • Southwest Airlines (LUV) is expected to report adjusted losses of 26 cents per share on revenue of $3.93 billion

  • Boston Beer Co (SAM) is expected to report adjusted earnings of $6.61 per share on revenue of $652.27 million

  • Twitter (TWTR) is expected to report adjusted earnings of 7 cents per share on revenue of $1.07 billion

  • snap (SNAP) is expected to report adjusted losses of 1 cent per share on revenue of $846.94 million

  • Crocs (CROX) is expected to report adjusted earnings of $1.59 per share on revenue of $566.89 million

  • Capital One Financial (COF) is expected to report adjusted earnings of $4.62 per share on revenue of $7.11 billion

  • Dow Inc. (DOW) is expected to report adjusted earnings of $2.45 per share on revenue of $12.98 billion

Top News

Musk says Tesla will likely accept bitcoin again in climate backtrack [Yahoo Finance UK]

European stocks soar ahead of ECB meeting [Yahoo Finance UK]

US and China commodity trade flourishes as if virus, tariffs never happened [Bloomberg]

Powell Has Broad Support Among Top Biden Employees For New Fed Term [Bloomberg]

Yahoo Finance Highlights

Morgan Stanley: ‘No need’ to cut GDP forecast for delta variants

Delta variant: Doctor warns Americans against traveling to Florida

This is how investors try to make money during high inflation high

Read the latest financial and business news from Yahoo Finance

Read the latest cryptocurrency and bitcoin news from Yahoo Finance