Job openings on Indeed have returned to pre-pandemic levels after more than three years of gradual decline from historic highs, according to data from the job search platform’s Hiring Lab index.
The index stood at 101.9 as of October 24, just 1.9 percent above its February 2020 baseline of 100, marking the culmination of a steady normalization in the labor market since postings peaked in early 2022.
The data provides insight into labor market conditions at a time when the ongoing government shutdown has halted the release of official employment statistics. With the Department of Labor unable to publish its monthly Job Openings and Labor Turnover Survey (JOLTS) and payrolls reports, economists, investors, and policymakers have turned to private sector sources like Indeed, ADP, and other firms to gauge the health of the labor market.
Job postings on Indeed reached an all-time high of 161.5 in March 2022, when employers struggled to fill positions amid the post-pandemic economic recovery. Since then, openings have declined by 36.9 percent, but the decrease has been gradual and consistent rather than abrupt.
Throughout 2025, the index has fallen at a rate of approximately 1 to 2 points per month. The index averaged 110.8 in January and has declined to 102.2 in October, representing a 7.7 percent decrease over the 10-month period.
Recent trends show the cooling pattern continuing at a similar pace. Job postings are down 1.2% over the past month, 3.4 percdent over three months, and 4.7 percent over six months.
Notably, the data shows no evidence of a sudden slump or worsening in October. The month’s decline of approximately 1.6 points is consistent with the 1-to-2-point monthly decreases observed during the 3.5 years since the 2022 peak, indicating a continuation of the existing trend rather than any acceleration or deterioration in labor market conditions.
The data suggests a controlled normalization of the labor market rather than a sharp deterioration. The August figures even showed a brief uptick of 1.03 points before the downward trend resumed in September and October.
Economists have characterized the gradual decline in job openings as consistent with a “soft landing” scenario, in which the labor market cools enough to ease wage pressures and inflation without triggering widespread layoffs or recession.
The Indeed Hiring Lab index tracks job postings on Indeed.com relative to a baseline date of February 1, 2020. The index hit its lowest point of 61.8 on May 14, 2020, during the early months of the COVID-19 pandemic.
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