An attractive opportunity with tremendous potential, the online job advertising market has grown to $36.1 billion in 2022, up 16% from the prior year, with a remarkable 164% increase since SIA began tracking the sector in 2015. This is due in part to a tight labor market and rising inflation, leading to soaring costs for performance based plans, particularly in the US. Three segments lead the market share: job aggregators, social media job sites and job boards, together accounting for 93% of the overall market. Surprisingly, the traditional job board model actually outpaced the market with a staggering 23% y/y growth, with the 50 largest firms collectively contributing 80% of the global market.

In light of the slowing economy in 2023, pricing trends have moderated, with the reversal more pronounced in cost-per-application (CPA) plans. This is further compounded by big tech’s disruption of the competitive balance, with Microsoft’s 2016 acquisition of LinkedIn standing as a notable example, and Google’s recently tested sponsored job posts within its Google for Jobs service.

Mobile use has grown considerably as well, with more than two-thirds of clicks and applies now derived from a mobile device. As a result