Who Wants Help? Job Listings Accelerate YoY, but Decelerate QoQ

Research evidence excerpt

Who Wants Help? Job Listings Accelerate YoY, but Decelerate QoQ

USA | Chemicals EquityJulyResearch10, 2026

Exhibit 4 - Aggregate Job Listings (YoY, QoQ, &Who Wants Help? Job Listings Accelerate YoY,

but Decelerate QoQ 3-Mo Moving Average) (Zoomed-In)

Changes in job listings provide a proxy for the 2nd derivative of chemical

demand, as hiring can presage customer confidence and production trends.

Aggregate listings continue to improve. Bright spots: Appliances/Electronics,

Industrial & Commercial Building, Transit, Roofing & Siding Wholesalers,

New Car Dealers. Weak spots: Chemical Wholesalers, Plastics, Industrial .Source: LinkUp, Jefferies

Gases, Used Cars, Coatings, Furnishings, Tires, Siding Contractors, Real Estate

Brokers.

Exhibit 1 - Job Listings: % Above/Below 5Y Avg vs Where It Falls in the Historical Range (0-100%)

120%

Taxi & Limo Service Resi Remodelers Home Centers Roofing,WholesalersSiding & Insulation IndustrialCommercialBuildingBuilding

100% Sea Freight

New Car Dealers Plastics Product Mfg Roof Contractors Current

At 80% Painting & Wall Covering Contractors Transit Systems

Arrangement & Wallpaper Stores Freight Transportation Range 60% PaintTire Mfg (excl Retread) Autobody Paint & Repair & Appliances, & Consumer Housewares

Siding Contractors Maintenance & Electronics Wholesalers

Rec. Vehicle Dealers 0%-100% 40% Coatings Mfg Computer/Equipment/Software

20% Used Car Dealers Wholesalers

Adhesive Mfg

Industrial Gas Mfg Home Furnishing Wholesalers

0%

Offices of RE Agents & Brokers Tire & Tube Wholesalers

Chem & Allied Prod. Wholesalers Plastics & Resin Mfg

-20%

-100% -50% 0% 50% 100% 150%

% Above/Below Average

.

Source: LinkUp, Jefferies

Exhibit 2 - Job Listings Momentum % MoM vs % YoY

200% Commercial Building Appliances, & Consumer Housewares & Home Centers