LinkedIn Workforce Report | United States | August 2023
With over 206 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 July 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
- Hiring declines continue at a much slower pace: Nationally, hiring declined 3.3% in July compared to June. While we are seeing some improvements, and this month’s year-over-year decline is the lowest since October 2022, hiring remains down 22% year-over-year. While we continue to see hiring slow, it has subsided from an average 3% month-over month decline from April 2022 to March 2023 to averaging a 1% decline since April 2023.
Some industries see hiring gains, yet still down from prior year: Hiring increased in 9 of 20 industries in July, an increase from 3 last month. Month-over-month, the industry with the strongest increase was Administrative and Support Services (+11.3%), which includes staffing and recruiting firms, followed by Consumer Services (+7.7%), and Hospital and Healthcare (+3.8%). Nevertheless, hiring in these industries remains down compared to July 2022. Industries that saw slow hiring were Farming, Ranching, Forestry (-7.7%), Financial Services (-6.2%), and Professional Services (-6.0%). Hiring in Real Estate is slowly rebounding with +2.8% compared to June and year-to-date hiring is only down -0.7%.
Looking at the year-over-year trends, hiring declines have moderated. Government Administration (-3.1%), Utilities (-6.2%), and Consumer Services (-7.7%) are amongst the strongest industries. While Technology, Information and Media saw modest hiring declines (-3.7%) compared to last month, it remains down nearly 40% versus July 2022.
- Sunbelt Hiring Rebounding: Only 3 out of the 20 metro areas we track saw month-over-month increases, down from 5 last month. The strongest metro areas were Nashville (+11.3%), Dallas-Ft. Worth (+4.1%) and Denver (+0.2%). The areas seeing hiring declines were Cleveland-Akron metro area (-6.1%), Philadelphia (-6.0%), and Washington, DC (-4.9%). On average, sunbelt metros saw a slight month-over-month decline in hiring (-0.3%) compared to a more moderate decline elsewhere (-3.8% on average). Compared to the same month last year, Miami-Ft. Lauderdale (-16.7%) is the metro with the smallest decline in hiring followed by Boston (-17.6%), and Nashville (-18.6). The metros that continue to see weakness in hiring in the past year were San Francisco (-25%), Austin (-25.8%), and Seattle (-31.6%).
Hiring
The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 3.3% lower in July 2023 compared to last month June 2023. National hiring was 22% lower in July 2023 compared to last year July 2022.
The industries with the most notable hiring shifts month-to-month in July 2023 were Administrative and Support Services (11.3% higher); Wholesale (10% higher); and Consumer Services (7.7% higher).
Table 1: Hiring on LinkedIn, by Industry, through July 2023
Industry | Jul-22 | ··· | Apr-23 | May-23 | Jun-23 | Jul-23 | MoM% Change | YoY% Change |
Accommodation and Food Services | 1.03 | ··· | 0.96 | 0.90 | 0.87 | 0.90 | +3.9 | -12.7 |
Administrative and Support Services | 1.18 | ··· | 0.92 | 0.94 | 0.79 | 0.88 | +11.3 | -25.2 |
Construction | 1.21 | ··· | 1.08 | 1.20 | 1.13 | 1.11 | -1.1 | -8 |
Consumer Services | 1.12 | ··· | 1.11 | 1.05 | 0.96 | 1.04 | +7.7 | -7.7 |
Education | 1.19 | ··· | 1.18 | 1.18 | 1.10 | 1.09 | -0.7 | -7.8 |
Entertainment Providers | 1.00 | ··· | 0.88 | 0.90 | 0.87 | 0.86 | -1.2 | -14.6 |
Farming, Ranching, Forestry | 1.17 | ··· | 1.15 | 1.11 | 1.13 | 1.04 | -7.7 | -11.1 |
Financial Services | 1.22 | ··· | 0.99 | 1.00 | 0.99 | 0.93 | -6.9 | -24.3 |
Government Administration | 1.10 | ··· | 1.11 | 1.12 | 1.03 | 1.06 | +3.2 | -3.1 |
Holding Companies | 1.05 | ··· | 0.83 | 0.92 | 0.85 | 0.71 | -17.2 | -32.7 |
Hospitals and Health Care | 1.23 | ··· | 1.10 | 1.16 | 1.09 | 1.13 | +3.9 | -7.9 |
Manufacturing | 1.10 | ··· | 0.89 | 0.96 | 0.91 | 0.89 | -2.7 | -19.2 |
Oil, Gas, and Mining | 1.05 | ··· | 0.94 | 1.00 | 0.90 | 0.88 | -2.7 | -16.2 |
Professional Services | 1.14 | ··· | 0.92 | 0.93 | 0.88 | 0.83 | -6.2 | -27.4 |
Real Estate and Equipment Rental Services | 1.14 | ··· | 1.00 | 0.97 | 0.94 | 0.96 | +2.8 | -15.8 |
Retail | 0.98 | ··· | 0.79 | 0.84 | 0.72 | 0.73 | +1.3 | -25.7 |
Technology, Information and Media | 1.21 | ··· | 0.78 | 0.83 | 0.76 | 0.73 | -3.7 | -39.5 |
Transportation, Logistics, Supply Chain and Storage | 1.31 | ··· | 1.11 | 1.11 | 1.08 | 1.05 | -2.6 | -19.8 |
Utilities | 1.30 | ··· | 1.19 | 1.26 | 1.19 | 1.22 | +2.3 | -6.2 |
Wholesale | 1.06 | ··· | 0.84 | 0.80 | 0.75 | 0.83 | +10 | -21.5 |
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 College Station-Bryan, TX; Tallahassee, FL; and San Francisco Bay Area, CA. For every 10,000 LinkedIn members in College Station-Bryan, TX, 88 left in the past 12 months.
The U.S. cities gaining the most people are North Port-Sarasota, FL; Charleston, SC; and Cape Coral, FL. For every 10,000 LinkedIn members in North Port-Sarasota, FL, 94 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.
