The Recruitics Talent Market Index offers a fresh perspective on industry talent supply and demand dynamics. It tracks the fluctuating prices of attracting talent through paid advertising across diverse media channels. By focusing on pricing data, the Index complements traditional labor market metrics like job openings and hiring volume, providing a more precise signal of demand for talent, regardless of job posting volume.
In this Report:
Watch the LinkedIn Live Replay
December 2024 Key Findings
Talent Attraction Prices Rise Year-Over-Year in December as U.S. Hits 48 Months of Job Growth, Tying Historic Record.
- All major segments saw year-over-year price increases in December, except for Food Services.
- December recorded the lowest aggregate prices of Q4 but remained the highest December in the past three years.
- Healthcare vs. Food Services: Healthcare continues to experience sustained demand with elevated talent attraction prices, while Food Services bucks the trend with a year-over-year price decline.
Segment Analysis
Hospitality 
Retail 
Following a strong holiday season, talent attraction prices saw a slight month-over-month increase as seasonal roles wound down. However, the substantial year-over-year growth highlights the sector's structural challenges in balancing labor supply and demand, especially with the ongoing shift to e-commerce.
Transportation & Logistics 
Talent attraction prices plummeted as post-holiday shipping demand normalized. Despite this decline, year-over-year growth remains significant, reflecting sustained interest in logistics roles driven by e-commerce's long-term expansion.
IT & Related 
While talent attraction prices remained flat month-over-month, the year-over-year increase highlights continued demand for specialized tech talent in areas like AI, cybersecurity, and cloud infrastructure. This stability reflects companies' prioritization of critical roles that drive digital transformation and innovation.
Light Industrial 
Talent attraction prices remained steady month-over-month, with modest year-over-year growth reflecting stable demand for roles in manufacturing, assembly, and warehousing as the sector maintains steady recovery post-pandemic.
Sales
Sales roles saw a month-over-month increase, driven by renewed hiring activity across industries, while the year-over-year growth highlights consistent demand for skilled professionals to drive revenue generation.
Finance & Operations
The year-over-year growth in talent attraction prices for finance and operations roles underscores a robust demand for expertise in managing budgets, optimizing workflows, and ensuring business continuity amid evolving economic conditions.
Healthcare vs. Food Services: Sustained Demand Meets Stabilization
Healthcare
In 2024, healthcare, government (primarily state and local hires), and leisure and hospitality accounted for 75% of job gains as these sectors continued recovering from the pandemic.
Healthcare added 686,000 jobs—a 17% increase from 2023. Growth was concentrated in hospitals (+215,000 jobs), home healthcare services (+15,000 jobs), and nursing and residential care (+14,000 jobs). High-demand roles included registered nurses, physician assistants, and healthcare managers, as well as physical therapists, dental hygienists, and speech-language pathologists.
The Talent Market Index for Healthcare shows a clear upward trend in 2024, reflecting sustained demand and elevated talent attraction prices. This growth highlights intensified competition for talent as employers address the needs of an aging population and increasingly complex patient care.
Food Services 
In contrast, the food services sector has seen more stabilization. Monthly talent attraction prices increased by a modest 1.85% in December 2024, while the year-over-year figure declined by 29.49%. This suggests that employers have successfully adapted to labor supply improvements, with vacancies being filled more readily.
However, the sector still faces retention challenges, particularly in high-pressure roles such as kitchen staff and servers. Flexible scheduling, enhanced benefits, and career advancement opportunities have proven effective strategies in attracting and retaining talent in food services. The stabilization in hiring trends reflects a maturing recovery from pandemic-related disruptions, even as demand remains strong in this dynamic and high-turnover industry.The unemployment rate for food service & drinking places is 5.4% and is higher than the national average
Looking Ahead
Reviewing the past 48 months of consistent job growth, the impact on talent attraction prices across various sectors is clear. The rise in e-commerce continues to influence sectors like hospitality, retail, and logistics, signaling a need for businesses to adapt their recruitment strategies to balance both online and in-store operations.
As the discrepancies between the healthcare and food services sectors become more pronounced, companies must be agile in their recruitment efforts. With the competition for skilled talent increasing, companies must stay ahead by refining their approaches to meet these shifting demands and sustain their success in an ever-changing job market.
—
Staying on top of the labor market is essential when creating or revamping recruitment strategies. The talent acquisition experts at Recruitics are here to help you navigate any market condition. We use real-time data to pivot, innovate, and collaborate, aiming to make your approach more precise, intuitive, and efficient. Contact us today!
