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January Jobs Report Surprises Economists But Follows Job Listing Trend; January Job Listings Shrink Compared to December

Posted on Posted in Alternative Data, Compensation, Construction Jobs, Labor Market Insights, Recruiting, Talent Analytics

This morning’s very strong jobs report came as a surprise to the economics community, who had predicted 160 thousand vs the 225 thousand that we actually saw.  But we’ve been citing strong job demand as reflected in job listings for several months, and since job listings precede hiring by 2-4 months, the strong hiring figures didn’t come as a surprise here.  Manufacturing and construction remain sectors to watch.  And, our January job listing stats show a slight pullback compared to December.  It’s not clear whether that’s an anomaly, or if we’ll see hiring begin to taper off in early Q2.  Stay tuned.