LinkedIn Workforce Report | United States | July 2023

Published on Jul 11, 2023

With over 202 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 June 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

U.S. hiring continues to show signs of stabilization: Nationally, hiring declined 2% in June compared to May, after two small hiring increases in April and May. While we are seeing year-over-year improvement, hiring is still down 20.9%. It’s still premature to say if a recovery is emerging or if these slight gains reflect a pause before declines continue once again.
Tech, Information, and Media; Professional Services; and Construction are most improved in the past 6 months: Hiring increased in 3 of 20 industries in June, a decrease from 14 last month. The two industries that saw the greatest month-over-month increases in hiring were Financial Services (+3.7%), and Farming, Ranching, and Forestry (+1.7%). While slowly rebounding, industries that are still seeing a weak and somewhat volatile hiring environment include Retail (-18.2%), Administrative and Support Services (-6.7%), and Tech, Information, and Media (-6.6%). Over the past 6 months, 15 of the 20 industries we track performed better than they did in the prior 6 months. Some of the biggest improvements were seen in Technology, Information, and Media; Professional Services; and Construction - industries that saw some of the larger declines over the last year.
Metros see double-digit hiring increases in the past 6 months: 5 of the 20 metros areas we track experienced month-over-month hiring gains, down from 17 last month. The strongest metro areas were St. Louis (2.3%), Boston (1.1%), and Detroit (0.9%). Consistent with what we are seeing nationally, between December 2022 and June 2023, hiring trends improved in 19 of the 20 metros compared to the prior six months (June 2022-December 2022). The strongest metros in the past 6 months were Boston (+1.4%), New York City (-1.9%), and Cleveland (-2.7%). The metros that continue to see weakness in hiring in the past 6 months were Nashville (-17%), Denver (-12.4%), and Dallas/Ft. Worth (-13.8%).

Hiring

The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 2% lower in June 2023 compared to last month May 2023. National hiring was 20.9% lower in June 2023 compared to last year June 2022.

The industries with the most notable hiring shifts month-to-month in June 2023 were Financial Services (3.7% higher); Farming, Ranching, Forestry (1.7% higher); and Holding Companies (1.5% higher).

Table 1: Hiring on LinkedIn, by Industry, through June 2023

Industry	Jun-22	···	Mar-23	Apr-23	May-23	Jun-23	MoM% Change	YoY% Change
Accommodation and Food Services	1.11	···	0.94	0.96	0.90	0.90	-0.8	-19.3
Administrative and Support Services	1.18	···	0.97	0.92	0.94	0.87	-6.7	-25.8
Construction	1.34	···	1.07	1.08	1.20	1.13	-5.2	-15.7
Consumer Services	1.16	···	1.08	1.11	1.05	1.02	-2.1	-11.7
Education	1.25	···	1.21	1.18	1.18	1.12	-5.4	-10.5
Entertainment Providers	1.04	···	0.85	0.88	0.90	0.88	-1.5	-14.8
Farming, Ranching, Forestry	1.39	···	1.22	1.15	1.11	1.13	+1.7	-18.8
Financial Services	1.32	···	1.04	0.99	1.00	1.04	+3.7	-21.2
Government Administration	1.19	···	1.08	1.11	1.12	1.07	-5	-10.3
Holding Companies	1.21	···	0.87	0.83	0.92	0.94	+1.5	-22.7
Hospitals and Health Care	1.30	···	1.14	1.10	1.16	1.10	-5.2	-14.9
Manufacturing	1.19	···	0.93	0.89	0.96	0.92	-4.1	-22.2
Oil, Gas, and Mining	1.13	···	0.96	0.94	1.00	0.90	-9.6	-20.5
Professional Services	1.21	···	0.92	0.92	0.93	0.92	-1.4	-23.9
Real Estate and Equipment Rental Services	1.29	···	0.99	1.00	0.97	0.94	-3.4	-27.2
Retail	1.01	···	0.84	0.79	0.84	0.69	-18.2	-32
Technology, Information and Media	1.33	···	0.80	0.78	0.83	0.77	-6.6	-41.8
Transportation, Logistics, Supply Chain and Storage	1.40	···	1.11	1.11	1.11	1.09	-2.3	-22
Utilities	1.27	···	1.31	1.19	1.26	1.20	-4.9	-5.7
Wholesale	1.15	···	0.86	0.84	0.80	0.78	-1.6	-31.6

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 Austin, TX. For every 10,000 LinkedIn members in North Port-Sarasota, FL, 101 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.