Fortune 1000 Hiring was very robust in November, according to data from WANTED Analytics. Hiring Demand by the Fortune 1000 companies grew by 2.9% on a seasonally adjusted basis from last month. This is exactly on trend with the 2.9% growth we've seen in this economic sector since the start of the stock market rally in early March of this year.
On a seasonally unadjusted basis and considering the entire month of November, Hiring Demand fell by only 2% compared to October – seasonal movements usually drive down Hiring Demand by 15% from October to November.
We're expecting new job ads, unadjusted, to fall dramatically next week leading up to the Christmas holidays.
Graph: Fortune 1000 Hiring Demand, Monthly, Weekly (4 years)
Certain industry groups seem to have recovered from last year's crisis. "Business centric" economic centers are peforming well, including the 'Banking' (Credit Intermediation), 'Insurance', and 'Office Supply' sectors. Consumer facing industries are still down compared to last year, including 'Consumer Goods' and 'Electronics and Appliance Stores'. ('Employment Services' is down compared to last year, but is up on the quarter)
Table: Fortune 1000 Hiring Demand, by Industry Group (NAICS), Prior Year Comparison
Hiring for the largest 1000 American corporations did take the usual November seasonal hit this year, except in the Washington DC market, supporting previous articles pointing towards Washington's positive employment situation.
Graph: Fortune 1000 Hiring Demand, by US Metropolitan Area