Boeing hiring was soaring, but now it has hit some turbulence
Boeing ($NYSE:BA) shares are once again reeling, as it confronts the latest twist in its ongoing jet production saga. Now, reports are emerging that it will suspend or stop producing 737 jets - and it could have been signaled in the aircraft manufacturer's alternative data.
When we last checked in on Boeing, it was in the process of rebounding from a near-hiring freeze that came as its investigators and Congressional inquiries into the 737 crashes began ramping up. Travelers are still leery about flying Boeing's new 737 jets. Then, there are accusations the company ignored a whistleblower who tried to put a stop to the delivery of planes with flaws.
Renton, Washington is where Boeing makes the 737 jets that have come under federal investigators scrutiny following two crashes that led to more than 340 deaths in two separate plane crashes in late 2018 and earlier this year. And Boeing's job postings in Renton are down nearly 69% from their 2019 peak. That - as our next chart reflects - is way out of pace with what Boeing's remaining job postings data for other locations reflects.
Today Boeing job postings, overall, are up for the year - job postings dove, then rose again, as the company sought to right itself in the wake of a pair of 737 crashes. But, more recently, job postings at the aircraft maker are down about 20% from second-half paks.
At other Boeing locations, job postings might have bounced back, but we can tell from its full hiring picture, as well as through localized trends, that the Washington aircraft manufacturer is still struggling with the crashes that called its latest line of jets into question. Renton, Washington data may go a long way to reveal the aircraft manufacturer's future plans.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.