Hybrid remote work has officially arrived. Indeed® recently introduced a new status flag for job postings called “Hybrid Remote”. Prior to January, the previous definitions of remote were:
- Temporarily Remote
- Permanently Remote
Hybrid remote work arrangements were relegated to the abstract of the posting ad or even into the ad body. However remote work is not going away anytime soon. We also discuss below the results of the February job postings and the most recent government data.
This is the fourth post in a seven-part series about the current state of the workforce and jobs and labor market and more importantly how to respond. The role of market-based analytics is so crucial to understanding the unfolding of remote work.
This series is based on a newly released white paper “The State of the Workforce and What You Can Do About It“. This white paper is automatically available to subscribers of our free jobs reports.
Temporary Remote Arrangements End
Temporarily remote postings have declined to nominal levels at well under 1% as shown in the following chart. These arrangements have declined as COVID-19 cases and restrictions have declined.
New Remote Arrangements Ushered In
Remote work postings appeared to be stagnant in the second half of 2021. In fact, in our white paper we labeled it as more “hype than hip”. Remote rates had flattened including most of the highly remote jobs such as software engineer and product designer.
While still a small percentage of overall job postings, remote ads have surged upward in the early going of 2022 as shown below.
Factoring in hybrid arrangements, remote positions now account for nearly 3% of all job postings.
Posting Volume Holds Steady
February 2022 job postings were flat from January and down 20% from February 2021. Posting volume is down 41% from the August peak.
Open Postings Aging Improves
Open job postings increased 3.5% in February while at the same time the weighted average days has declined from 104 days to 95 days. This dual benefit reverses the negative trend we had seen late in 2021 where open postings declined while average days increased.
BLS Job Openings Remain Near Record Levels
The Bureau of Labor Statistics (BLS) January data released this morning shows job openings still near record levels.
There is one saving grace here and that is that several challenging industries have shown improvement such as leisure and hospitality, accommodation and food services, and healthcare.
Quit rates have finally eased off of record levels declining from 3% to 2.8% with improvement across industries. A notable exception however is healthcare where the quit rate has remained flat and nondurable goods manufacturing where the quit rate increased 10% to a record high 3.0%.
Get More Jobs Report Insights
Sign up to watch our Jobs Report Video for even greater insights on this topic and receive supplemental reports and market data.