Takeaways: 

  • The overall labor market continues to moderate, with total Indeed job postings down 12.4% from July 5, 2023. 
  • Job postings in all Transportation categories are down from a year ago, with Aviation experiencing the largest year-over-year drop. 
  • Annual wage growth for Driving occupations softened substantially, registering year-over-year growth of 1% through June 2024, down from 1.9% as recently as December 2023. 

Indeed job postings 

The broad moderation in the labor market persisted through the second quarter. As of July 5, 2024, the Indeed Job Postings Index (JPI) was down 12.4% from the same time last year, and the labor market is nearing its pre-pandemic level after more than two years of near-continuous declines. The JPI stood at 111.7 on July 5, meaning that the total level of job postings nationwide is 11.7% above their pre-pandemic (Feb. 1, 2020) baseline.  

Line graph titled “US job postings down 12.4% year-over-year” shows the change in Indeed job postings since their pre-pandemic baseline, through July 5th, 2024. US job postings have fallen 12.4% over the past year.
Line graph titled “US job postings down 12.4% year-over-year” shows the change in Indeed job postings since their pre-pandemic baseline, through July 5th, 2024. US job postings have fallen 12.4% over the past year.

Transportation job postings 

The trend in Transportation mirrors that of the larger labor market: Job postings have been declining steadily, but remain above pre-pandemic levels in all categories. Job postings for Logistic Support and Driving roles have fared slightly better than the market as a whole, down 10.2% and 11% year-over-year, respectively, compared to the overall labor market decline of 12.4% over the same period. Aviation currently leads the slowdown in transportation job postings, falling 20.5% over the past year. However, demand in the Aviation category remains relatively strong, with postings still 30% above their February 2020 level.  

Table titled “Transportation postings slow while Logistic Support approaches its prepandemic level” shows job posting trends over the past year through July 5, 2024, and from the pre-pandemic baseline, for several Transportation occupations. Driving job postings decreased 11% over the past year but remained 26% above their pre-pandemic baseline.
Table titled “Transportation postings slow while Logistic Support approaches its prepandemic level” shows job posting trends over the past year through July 5, 2024, and from the pre-pandemic baseline, for several Transportation occupations. Driving job postings decreased 11% over the past year but remained 26% above their pre-pandemic baseline.

Transportation wage growth  

The Indeed Wage Tracker shows pay gains across the broader labor market leveling off, and Transportation pay trends are moving mostly in step. The slowdown in annual wage growth for Driving and Loading & Stocking roles has moderated over the past year, though growth for Loading & Stocking remains relatively strong at 3.9% year-over-year (compared to the labor market average of 3.1%). Annual wage growth in Driving job postings is a much more muted 1% through June 2024. 

Line chart titled “Transportation wage growth has returned to pre-pandemic levels,” shows year-over-year wage growth, in %, for Driving and Loading & Stocking postings through June 2024. Wage growth in Driving postings is up 1% year-over-year. 
Line chart titled “Transportation wage growth has returned to pre-pandemic levels,” shows year-over-year wage growth, in %, for Driving and Loading & Stocking postings through June 2024. Wage growth in Driving postings is up 1% year-over-year.

For more labor market insights from the Indeed Hiring Lab, visit us at hiringlab.org.