Hospitality and Retail Each Saw Over 1 Million Job Postings in Q1 2022: New Report by Staffing Giant PeopleReady

Rhea-AI Summary

U.S. median hourly wage rose by 5.5% year-over-year to $31.76, reflecting a persistent labor shortage largely due to Covid-19.

According to the PeopleReady's Workforce Trends Quarterly Report, sectors like hospitality and retail saw over 1 million job postings each in Q1 2022, amid a total of 5 million more job openings than available workers.

PeopleReady emphasized its commitment to connect employers with candidates, leveraging the JobStack platform to address recruitment challenges.

Positive

• U.S. median hourly wage increased by 5.5% year-over-year to $31.76.
• 1.619 million job postings in hospitality and 1.061 million in retail indicate strong job demand.
• PeopleReady connects employers with candidates through its JobStack platform.

Negative

• None.

U.S. median hourly wage up 5.5% year over year, according to new report

TACOMA, Wash., May 9, 2022 /PRNewswire/ -- The labor shortage brought on by Covid-19 has extended well into 2022, leaving many employers scrambling to fill open positions. Hospitality and retail — two sectors that have been hit especially hard during the pandemic — both saw over 1 million new job postings during the first quarter of 2022, according to a new report from staffing giant PeopleReady.

PeopleReady's U.S. Workforce Trends Quarterly Report explores the latest job and wage growth trends throughout the U.S., with timely data that provides valuable insight about employment in several major industries. The report also features recommendations on how today's employers can overcome their recruitment challenges.

Demand for workers, based on job postings, remains high in virtually every sector. The number of job postings for select sectors during Q1 2022, according to the PeopleReady report:

• Hospitality: 1,619,000 job postings
• Retail: 1,061,000
• Manufacturing: 802,000
• Construction: 364,000
• Building and grounds cleaning/maintenance: 275,000
• Utilities: 40,000

With 5 million more job openings in the U.S. than the number of available workers, employers are increasing wages to attract and retain new hires. The U.S. median hourly wage for Q1 2022 was $31.76, a 5.5% increase year over year, the report notes.

"Even with the economy hovering just above full employment, job growth continues at a rapid pace. In response to the labor shortage, employers across the country are looking to remain competitive and explore new ways to grow their pool of potential candidates," said Taryn Owen, president and COO of PeopleReady and PeopleScout. "With so many jobs unfilled across so many major industries, PeopleReady is committed to connecting employers with job seekers in their local communities."

PeopleReady helps companies navigate the challenging labor market by putting a Workforce Within Reach™ 24/7. The staffing giant's award-winning app, JobStack, provides employers with immediate access to a vast and expanding network of temporary workers.

About PeopleReady
PeopleReady, a TrueBlue company (NYSE: TBI), specializes in quick and reliable on-demand labor and highly skilled workers. PeopleReady supports a wide range of blue-collar industries, including construction, manufacturing and logistics, waste and recycling, and hospitality. Leveraging its game-changing JobStack platform and 600-plus branch offices across all 50 states, Puerto Rico and Canada, PeopleReady served approximately 94,000 businesses and put approximately 220,000 people to work in 2021. Learn more at www.peopleready.com.

Press Contact:
Caroline Sabetti
Chief Marketing Officer, PeopleReady and PeopleScout
& Senior Vice President of TrueBlue Communications
csabetti@trueblue.com
312.560.9173

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SOURCE PeopleReady

FAQ

What is the impact of the labor shortage on the U.S. job market in Q1 2022?

The labor shortage led to increased job postings across multiple sectors, including over 1 million in both hospitality and retail.

How much did the U.S. median hourly wage increase in Q1 2022 according to PeopleReady's report?

The U.S. median hourly wage increased by 5.5% year-over-year, reaching $31.76.

What challenges are employers facing in hiring as per the Q1 2022 report?

Employers are struggling to fill open positions due to a significant labor shortage, leading to heightened demand for workers.

Which sectors reported the most job postings in the first quarter of 2022?

The hospitality and retail sectors each reported over 1 million job postings in Q1 2022.

How does PeopleReady facilitate hiring for businesses?

PeopleReady utilizes its JobStack platform to provide immediate access to a large network of temporary workers.