A survey of 29 of the 30 companies in the Dow reflects a drop this month alone, of nearly 20,000 job postings, with plenty more time for market leaders to slash job postings, or enact furloughs and layoffs.
Above, we track the overwhelming majority of the Dow Index, which underscores the severity of the crisis created by the Coronavirus outbreak and subsequent shocks to the global economy that unfolded. The plunge from 48,000 open positions to 29,000 roles represents a decrease of nearly 40% in less than a month. Next, we'll break down some key dow components, as well as our past reporting on companies in the index.
Intel job postings have plunged 63%, although not every tech sector player is seeing widespread cuts to hiring. Amazon, for example, continues to staff up, and at least one European automaker is trying to get back to business. The company will report earnings April 23.
In spite of the steep cuts to job postings, Intel shares have nearly fully rebounded - a positive sign for the global economy.
For our final chart covering the Dow - for now - we can see that American Express ($AXP) nearly ground job postings to a halt, from what was for years a consistent pace hovering around 1,000 open positions, to just 60 as of April 21. American Express shares have fallen more than 34% in 2020. Amex reports earnings April 24.
The payments space has now seen two major legacy players, between Visa and AmEx, reduce job postings - but as digital apps thrive and as more people shelter in place, hunker down, potential competitors to American Express could gain a leg up, especially if the lockdown lasts longer.
To wrap up, a full list of the companies' job postings that comprise the five-figure-posting decline:
Johnson & Johnson
Procter & Gamble
About the Data:
Thinknum tracks companies using the information they post online, jobs, social and web traffic, product sales and app ratings, and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
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