Evan Sohn on US Jobs Market Softness and AI Job Growth

Global Labor Market Trends

• 📉 Global job postings are showing softness, with the US down 7%, APAC down 25%, and Latin America down 11%.
• 📈 Canada and India appear to be the only countries experiencing growth in job postings.

Leading Indicators for Hiring and Layoffs

• ⚠️ A significant downturn in staffing and recruiting jobs (down 28% year-to-date) and HR jobs (down over 40% year-to-date) suggests companies are bracing for layoffs.
• 💡 These roles are considered leading indicators; a decrease signals companies are not hiring or onboarding new employees, and may be preparing to reduce headcount.

Shifting Job Landscape in the US

• 📉 The proportion of open jobs within the S&P 500 located in the US has drastically decreased from 92% in 2020 to 14% in March 2025.
• 🌎 This shift indicates jobs are moving outside the US, potentially due to lower labor costs.
• 📊 The BLS numbers show twice as many people quitting than being hired, indicating a slowdown in hiring pace.

Growth in AI-Related Jobs

• ✨ A bright spot in the job market is the growth of AI jobs, as companies seek efficiency.
• 📈 Marketing roles with an AI component saw a 52% increase in job postings.
• 🌍 AI job growth is concentrated in tech hubs like California, New York, Massachusetts, and Washington, with underpenetration in the Midwest and South.