LinkedIn Workforce Report | United States | July 2024
With over 214 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 2024.
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 slows slightly to start the summer but still steady: Nationally, across all industries, hiring decelerated by 2.2% from May to June and decreased 8.1% compared to June 2023. The pace of hiring this year has seen minor fluctuations month-to-month but is effectively steady so far in 2024 with June hiring matching January hiring.
- Industry hiring gains narrow in June: Hiring increased in 3 out of 20 industries from May to June, reversing May’s broad acceleration in hiring across industries. The industries with the strongest month-over-month acceleration in June were Real Estate and Equipment Rental Services (+4.1%) and Transportation, Logistics, Supply Chain and Storage (+0.9%). Hiring decelerated the most month-over-month in Farming, Ranching, Forestry (-6.0%), Administrative and Support Services (-6.4%) and Accommodation and Food Services (-8.3%). The Technology, Information, and Media industry continues to lead hiring stabilization with hiring matching its pace from June 2023, while the overall hiring rate has decelerated 8.1% from June 2023.
No hiring gains across major metros: While the pace of hiring remained unchanged for Minneapolis-St. Paul, all the other 19 of the 20 metro areas we track saw hiring slow from May to June. Hiring in Atlanta remains up year-over-year (+1.0%) while hiring in the San Francisco Bay Area is now slightly down year-over-year (-1.1%). The cities with the largest hiring decelerations from May to June were Washington, DC (-4.1%), Phoenix (-4.5%), and Boston (-8.9%).
Hiring
The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 2.2% lower in June 2024 compared to last month May 2024. National hiring was 8.1% lower in June 2024 compared to last year June 2023.
The industries with the most notable hiring shifts month-to-month in June 2024 were Real Estate and Equipment Rental Services (4.1% higher); Transportation, Logistics, Supply Chain and Storage (0.9% higher); and Holding Companies (0.6% higher).
Table 1: Hiring on LinkedIn, by Industry, through June 2024
Industry | Jun-23 | ··· | Mar-24 | Apr-24 | May-24 | Jun-24 | MoM% Change | YoY% Change |
Accommodation and Food Services | 0.97 | ··· | 0.95 | 0.94 | 0.97 | 0.89 | -8.3 | -9.1 |
Administrative and Support Services | 0.90 | ··· | 0.90 | 0.87 | 0.84 | 0.78 | -6.4 | -12.5 |
Construction | 1.27 | ··· | 1.18 | 1.17 | 1.22 | 1.22 | -0.4 | -4 |
Consumer Services | 1.13 | ··· | 1.15 | 1.19 | 1.14 | 1.09 | -5 | -4.3 |
Education | 1.19 | ··· | 1.12 | 1.16 | 1.22 | 1.17 | -4.7 | -2.1 |
Entertainment Providers | 0.96 | ··· | 0.92 | 0.91 | 0.93 | 0.90 | -2.9 | -6.7 |
Farming, Ranching, Forestry | 1.23 | ··· | 1.09 | 1.10 | 1.11 | 1.04 | -6 | -15.4 |
Financial Services | 1.07 | ··· | 0.97 | 0.97 | 1.01 | 0.96 | -4.4 | -10.4 |
Government Administration | 1.18 | ··· | 1.10 | 1.08 | 1.14 | 1.09 | -4.4 | -7.7 |
Holding Companies | 0.86 | ··· | 0.67 | 0.87 | 0.75 | 0.75 | +0.6 | -12.8 |
Hospitals and Health Care | 1.21 | ··· | 1.11 | 1.10 | 1.14 | 1.10 | -3.7 | -8.8 |
Manufacturing | 1.02 | ··· | 0.89 | 0.91 | 0.90 | 0.88 | -1.7 | -13.1 |
Oil, Gas, and Mining | 1.02 | ··· | 0.87 | 0.87 | 0.91 | 0.89 | -2.8 | -13 |
Professional Services | 0.96 | ··· | 0.89 | 0.87 | 0.92 | 0.90 | -2.3 | -6.4 |
Real Estate and Equipment Rental Services | 1.06 | ··· | 0.97 | 0.96 | 0.86 | 0.90 | +4.1 | -15.7 |
Retail | 0.83 | ··· | 0.84 | 0.82 | 0.81 | 0.77 | -4.9 | -7.1 |
Technology, Information and Media | 0.84 | ··· | 0.86 | 0.86 | 0.87 | 0.84 | -4.2 | +0.1 |
Transportation, Logistics, Supply Chain and Storage | 1.16 | ··· | 1.01 | 1.01 | 1.02 | 1.03 | +0.9 | -11 |
Utilities | 1.39 | ··· | 1.22 | 1.16 | 1.16 | 1.16 | -0.2 | -16.4 |
Wholesale | 0.91 | ··· | 0.85 | 0.84 | 0.77 | 0.75 | -3 | -17.1 |
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.
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.
