LinkedIn Workforce Report | United States | April 2023
With over 199 million LinkedIn members in the United States, we have unique insight into the real-time dynamics of Americans starting new jobs and moving to new cities. This month’s LinkedIn Workforce Report looks at our latest national data on hiring and migration trends through March 2023.
For more insight into localized employment trends in 20 of the largest U.S. metro areas, check out this month’s reports for: Atlanta, Austin, Boston, Chicago, Cleveland-Akron, Dallas-Ft. Worth, Denver, Detroit, Houston, Los Angeles, Miami-Ft. Lauderdale, Minneapolis-St. Paul, Nashville, New York City, Philadelphia, Phoenix, San Francisco Bay Area, Seattle, St. Louis, and Washington, D.C.
Our vision is to create economic opportunity for every member of the global workforce. Whether you’re a worker, an employer, a new grad, or a policymaker, we hope you’ll use these insights to better understand and navigate the dynamics of today’s economy.
Key Insights
- Ongoing modest hiring declines continue: Nationally, across all industries, hiring decreased 0.6% in March compared to February and is down 28.2% year-over-year. The 0.6% decrease is the smallest decline we’ve seen in hiring in the past 11 months. While hiring declines may be gradually moderating, they are continuing to add to the ongoing slowdown: since hiring began to decline in April 2022, hiring has now declined by 29.2%. Additionally, our Workforce Confidence Survey indicates that our US members’ confidence about holding or finding a job has also declined since April 2022, but saw a slight uptick in March after hitting a two-year low in February.
Hiring across a variety of industries show resilience: Hiring increased month-over-month in 8 of 20 industries – this is an increase from the 4 industries that saw hiring gains in February. The industries that saw the biggest month-over-month gains were Farming, Ranching and Forestry (+11.7% M/M), Utilities (+5.8%), and Oil, Gas and Mining (+4.2%). The biggest month-over-month declines were in Accommodation (-4.4%), Entertainment Providers (-3.4%), and Retail (-1.7%). While we’re seeing resilience in year-over-year hiring in certain industries like Education (-8.7% y/y), and Utilities, (-7.5% y/y), others continue to struggle – hiring in Technology, Information & Media is down 50.1% as well as Professional Services (-31.8%).
- New hiring gains seen across metros nationwide: Hiring increased month-over-month in 14 of 20 metro areas we track; this is a large increase from the 4 metros that saw gains in February. While we saw hiring increase in several cities across the U.S., Miami/Fort Lauderdale was the only metro that experienced hiring above pre-pandemic levels. The largest month-over-months gains were seen in Miami/Fort Lauderdale (+6.2%), Minneapolis (+4.7%), and Nashville (+4.1%). The biggest declines were in St. Louis (-7.0%), Seattle (-2.4%), and the San Francisco Bay Area (-1.4%). Since the Spring 2022 declines, three metros that have continued to hold up the best have been Miami (-15.9%), Nashville (-18.7%), and Houston (-23.4%). And the metros that have shown the weakest growth since that time frame are Seattle (-34.9%), the San Francisco Bay Area (-33.3%), and New York City (-31.2%).
Hiring
The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 0.6% lower in March 2023 compared to last month February 2023. National hiring was 28.2% lower in March 2023 compared to last year March 2022.
The industries with the most notable hiring shifts month-to-month in March 2023 were Farming, Ranching, Forestry (11.7% higher); Utilities (5.8% higher); and Oil, Gas, and Mining (4.2% higher).
Table 1: Hiring on LinkedIn, by Industry, through March 2023
| Industry | Mar-22 | ··· | Dec-22 | Jan-23 | Feb-23 | Mar-23 | MoM% Change | YoY% Change |
|---|---|---|---|---|---|---|---|---|
| Accommodation | 1.18 | ··· | 1.00 | 0.98 | NA | NA | NA | NA |
| Accommodation and Food Services | NA | ··· | NA | NA | 0.98 | 0.94 | -4.4 | NA |
| Administrative and Support Services | 1.31 | ··· | 1.04 | 1.00 | 0.98 | 0.97 | -0.8 | -26.3 |
| Construction | 1.37 | ··· | 1.14 | 1.18 | 1.09 | 1.07 | -1.5 | -21.7 |
| Consumer Services | 1.24 | ··· | 1.09 | 1.09 | 1.10 | 1.08 | -1.4 | -12.6 |
| Education | 1.36 | ··· | 1.17 | 1.15 | 1.18 | 1.21 | +2.6 | -10.9 |
| Entertainment Providers | 1.15 | ··· | 0.92 | 0.92 | 0.88 | 0.85 | -3.4 | -25.6 |
| Farming, Ranching, Forestry | 1.55 | ··· | 1.23 | 1.14 | 1.09 | 1.22 | +11.7 | -21.7 |
| Financial Services | 1.49 | ··· | 1.12 | 1.13 | 1.05 | 1.04 | -1.2 | -30.2 |
| Government Administration | 1.18 | ··· | 1.12 | 1.14 | 1.08 | 1.08 | -0.3 | -8.7 |
| Holding Companies | 1.32 | ··· | 0.91 | 0.93 | 0.84 | 0.87 | +2.5 | -34.3 |
| Hospitals and Health Care | 1.33 | ··· | 1.13 | 1.16 | 1.10 | 1.14 | +3.7 | -14.7 |
| Manufacturing | 1.29 | ··· | 0.98 | 0.99 | 0.91 | 0.93 | +2 | -28.3 |
| Oil, Gas, and Mining | 1.18 | ··· | 0.97 | 0.98 | 0.92 | 0.96 | +4.2 | -18.5 |
| Professional Services | 1.35 | ··· | 0.97 | 0.94 | 0.92 | 0.92 | +0.2 | -31.8 |
| Real Estate and Equipment Rental Services | 1.41 | ··· | 1.08 | 0.97 | 1.00 | 0.99 | -0.7 | -29.3 |
| Retail | 1.16 | ··· | 0.96 | 0.87 | 0.85 | 0.84 | -1.7 | -28.1 |
| Technology, Information and Media | 1.60 | ··· | 0.91 | 0.90 | 0.81 | 0.80 | -1.2 | -50.1 |
| Transportation, Logistics, Supply Chain and Storage | 1.52 | ··· | 1.19 | 1.15 | 1.12 | 1.11 | -0.7 | -26.6 |
| Utilities | 1.42 | ··· | 1.32 | 1.30 | 1.24 | 1.31 | +5.8 | -7.5 |
| Wholesale | 1.22 | ··· | 0.96 | 0.87 | 0.86 | 0.86 | -0.7 | -29.8 |
Methodology: “Hiring Rate” is the count of hires (LinkedIn members in each industry who added a new employer to their profile in the same month the new job began), divided by the total number of LinkedIn members in the U.S. By only analyzing the timeliest data, we can make accurate month-to-month comparisons and account for any potential lags in members updating their profiles. This number is indexed to the average month in 2016 for each industry; for example, an index of 1.05 indicates a hiring rate that is 5% higher than the average month in 2016.
Migration
The U.S. cities losing the most people are Portland, OR; Washington, D.C.; and Columbus, OH. For every 10,000 LinkedIn members in Portland, OR, 77 left in the past 12 months.
The U.S. cities gaining the most people are Austin, TX; San Francisco Bay Area, CA; and Seattle, WA. For every 10,000 LinkedIn members in Austin, TX, 98 arrived in the last 12 months.
Check out our reports for Atlanta, Austin, Boston, Chicago, Cleveland-Akron, Dallas-Ft. Worth, Denver, Detroit, Houston, Los Angeles, Miami-Ft. Lauderdale, Minneapolis-St. Paul, Nashville, New York City, Philadelphia, Phoenix, San Francisco Bay Area, Seattle, St. Louis, and Washington, D.C., to see which jobs are open.
