LinkedIn Workforce Report | United States | December 2022
With over 191 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 November 2022.
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
Substantial hiring decline in November: Nationally, across all industries, hiring fell by 4.9% in November compared to October and is 20.5% lower compared to November 2021. Hiring is now also 11.8% below pre-COVID hiring levels (February 2020). After a big decline in the Spring, we saw hiring level out during the Summer, but it appears we are seeing the U.S. labor market beginning to slow in a more meaningful way.
Hiring declined in a majority of industries: Hiring declined month-over-month in 17 of 20 industries. The three gains were in Government Administration (+0.7% M/M), Education (+0.4% M/M), and Transportation, Logistics, Supply Chain & Storage (+0.4% M/M). Particularly large month-over-month declines were seen in Technology, Information and Media (-14.6% M/M), Manufacturing (-8.4% M/M), and Oil, Gas & Mining (-7.8% M/M). Hiring in Tech, Information and Media is now at its lowest level since July 2020. This industry, in particular, saw massive hiring gains throughout the pandemic, so while these are meaningful declines, they also signify a leveling out following the hiring boom.
Hiring declined in all twenty metros: Hiring declined month-over-month in all 20 metro areas we track. The smallest declines were experienced in Phoenix (-0.8% M/M), Chicago (-1.3% M/M), and New York City (-1.5% M/M). The largest declines occurred in Boston (-11.4% M/M), Minneapolis (-8.7% M/M), and Miami/Ft. Lauderdale (-8.1% M/M). While hiring has declined since the Spring in every metro, the declines have been smallest in St. Louis (-12.9% since April 2022), Atlanta (-14.2%), and New York City (-14.6%). Miami, which was one of the hottest job markets in 2021, has seen a decline in hiring of about 18.4% since the Spring, roughly in line with the national average.
Hiring
The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 4.9% lower in November 2022 compared to last month October 2022. National hiring was 20.5% lower in November 2022 compared to last year November 2021.
The industries with the most notable hiring shifts month-to-month in November 2022 were Government Administration (0.7% higher); Education (0.4% higher); and Transportation, Logistics, Supply Chain and Storage (0.4% higher).
Table 1: Hiring on LinkedIn, by Industry, through November 2022
Industry | Nov-21 | ··· | Aug-22 | Sep-22 | Oct-22 | Nov-22 | MoM% Change | YoY% Change |
Accommodation | 1.15 | ··· | 1.05 | 1.02 | 1.03 | 1.00 | -2.9 | -13.2 |
Administrative and Support Services | 1.30 | ··· | 1.20 | 1.10 | 1.08 | 1.06 | -1.9 | -18.1 |
Construction | 1.33 | ··· | 1.29 | 1.25 | 1.20 | 1.13 | -5.4 | -15 |
Consumer Services | 1.13 | ··· | 1.14 | 1.13 | 1.14 | 1.11 | -2 | -1.8 |
Education | 1.33 | ··· | 1.21 | 1.22 | 1.21 | 1.21 | +0.4 | -8.8 |
Entertainment Providers | 1.21 | ··· | 1.03 | 1.01 | 0.94 | 0.87 | -7.3 | -28.2 |
Farming, Ranching, Forestry | 1.48 | ··· | 1.30 | 1.13 | 1.26 | 1.17 | -6.7 | -20.7 |
Financial Services | 1.53 | ··· | 1.29 | 1.25 | 1.21 | 1.15 | -4.8 | -24.7 |
Government Administration | 1.14 | ··· | 1.11 | 1.05 | 1.08 | 1.09 | +0.7 | -4.5 |
Holding Companies | 1.49 | ··· | 1.17 | 1.03 | 1.01 | 0.83 | -17 | -44.1 |
Hospitals and Health Care | 1.32 | ··· | 1.30 | 1.17 | 1.17 | 1.13 | -3.3 | -14.6 |
Manufacturing | 1.34 | ··· | 1.13 | 1.11 | 1.06 | 0.97 | -8.4 | -27.5 |
Oil, Gas, and Mining | 1.16 | ··· | 1.09 | 1.07 | 1.03 | 0.95 | -7.4 | -18.3 |
Professional Services | 1.46 | ··· | 1.16 | 1.10 | 1.03 | 0.99 | -3.8 | -32.2 |
Real Estate and Equipment Rental Services | 1.36 | ··· | 1.18 | 1.07 | 1.04 | 1.04 | -0.4 | -23.9 |
Retail | 1.09 | ··· | 0.96 | 0.91 | 0.90 | 0.87 | -2.8 | -19.9 |
Technology, Information and Media | 1.57 | ··· | 1.26 | 1.21 | 1.12 | 0.96 | -14.6 | -39 |
Transportation, Logistics, Supply Chain and Storage | 1.48 | ··· | 1.30 | 1.30 | 1.26 | 1.26 | +0.4 | -14.8 |
Utilities | 1.17 | ··· | 1.37 | 1.34 | 1.32 | 1.29 | -2.5 | +10.2 |
Wholesale | 1.25 | ··· | 1.07 | 1.00 | 1.00 | 0.95 | -4.8 | -23.7 |
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; State College-DuBois, PA; and Tallahassee, FL. For every 10,000 LinkedIn members in College Station-Bryan, TX, 235 left in the past 12 months.
The U.S. cities gaining the most people are Austin, TX; North Port-Sarasota, FL; and Tampa Bay, FL. For every 10,000 LinkedIn members in Austin, TX, 143 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.
