- Researchers from the UCLA Anderson Forecast, a centre that issues quarterly predictions about the economy, recently announced the US is already in a recession due to the novel coronavirus.
- Job platform Indeed analysed the number of new job postings on its website from January 1 to March 14, 2020 and compared it to the same period in 2019.
- Indeed found declines across several countries, including the US, which has seen a 2.6% drop in job postings.
- Visit Business Insider’s homepage for more stories.
Job seekers around the world are experiencing a decline in open jobs, thanks in part to a looming recession.
Researchers from the UCLA Anderson Forecast, one of the most closely watched economic forecasting institutions, recently announced the US is already in a recession caused by the global outbreak of the novel coronavirus. The forecast puts the US economy’s downturn much earlier than expected. Research from major US banks that said the economy would enter a recession in the summer.
Data from job-search website Indeed provided to Business Insider shows that hiring has already slowed down year over year, another troubling sign the economy could already be in free fall much earlier than expected.
Here are 11 countries that have seen the biggest decline in new job postings, based on the per cent change in postings from January 1 to March 14, 2020 versus the same period last year.
New job listings in Italy are down 12.1%.
New job listings in Australia are down 7.3%.
New job listings in Ireland are down 7.1%.
New job listings in France are down 6.2%.
New job listings in the United Kingdom are down 4.5%.
New job listings in Germany are down 4.3%.
New job listings in the US are down 2.6%.
New job listings in the Netherlands are down 2.5%.
New job listings in Canada are down 1.8%.
New job listings in Singapore are down 1.7%.
New job listings in Belgium are down 0.3%.
Business Insider Emails & Alerts
Site highlights each day to your inbox.