Retail Labor Market Report for Q4 2024: Open Retail Positions Drop Below Pre-Pandemic Numbers in America

As we move into the new year, the job market and wage growth in two key sectors – Food Preparation & Service and Retail – are showing some interesting trends.

First, let's discuss the Food Preparation & Service sector. Despite the overall US Indeed Job Posting Index (JPI) experiencing a decrease of 8.3% from the same date last year, the wage growth for Food Preparation & Service workers remained stable, leveling off at 2.5% as of January 17, 2025. While there was a modest pickup in the summer, it failed to match the overall labor market average.

Interestingly, Food Preparation & Service job postings held up best among all retail categories, falling only 8% in the year to January 17, 2025. However, it's worth noting that both Food Preparation & Service and Retail wage growth lag behind the overall labor market average. This could be due to the softening demand for workers over the past several years.

Now, let's shift our focus to the Retail sector. The story here is slightly different. The JPI for Retail remained above the pre-pandemic baseline, but employer demand for workers continued to weaken. Retail job postings experienced a double-digit year-over-year decline as of January 17, 2025, falling below the pre-pandemic baseline.

The posted wage growth for the Retail category is slowly declining, and as of December 2024, Retail wage growth stood at 1.6%, significantly below the labor market average of 3.3% year-over-year growth.

It's important to note that all three categories – Retail, Food Preparation & Service, and others – posted declines in year-over-year job postings through January 17, 2025.

In terms of company identities, the current job postings on Indeed for various positions in these sectors include Otis for a Teamleiter im Kundenservice Center in Berlin, GKN Aerospace for a Team Leader in Munich, and Tesla for a Werkstattleiter/Teamleiter Werkstatt in Parsdorf near Munich, as listed on or around September 7, 2025.

These trends suggest a shifting landscape in the job market, with employers in the Food Preparation & Service and Retail sectors navigating a more challenging environment. However, it's crucial to keep a close eye on these trends as we move forward, as they may indicate broader economic shifts.

Retail Labor Market Report for Q4 2024: Open Retail Positions Drop Below Pre-Pandemic Numbers in America