LinkedIn Workforce Report | United States | November 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 October 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
- Hiring Continues to Gradually Decline Amidst Ongoing Economic Uncertainty: Nationally, across all industries, hiring in the U.S. was 0.5% lower in October and 10.6% lower compared to October 2021. Hiring is also continuing to creep down below pre-COVID hiring levels (February 2020), which now sits 7.6% lower. While we saw a slight decline this month, we’re still just 1.9% below the hiring level from the late Spring declines – which was the last time we saw a meaningful downturn this year. The slight drop in October hiring does not signal the onset of a recession but instead gradual steps downward.
- Real Estate, Tech & Retail Continue to See Hiring Declines: Similar to October’s report, we once again saw a broad decline in hiring across industries, with only five industries out of the twenty we track seeing month-over-month gains – Consumer Services, Education, Farming Ranching and Forestry, Government Administration, and Hospitals & Healthcare. While we've seen widespread hiring slowdowns, the industries demonstrating the weakest performance since the early Spring declines (April) are Real Estate, Technology Information & Media and Retail. The industries that while still slowing but not slowing as quickly are Consumer Services, Hospitals & Healthcare and Government Administration. The one sector that has experienced decent growth since the Spring decline is Utilities.
- Metros See Renewed Hiring Gains: Six metro areas experienced month-over-month increases in October: Atlanta, Dallas, Denver, Detroit, Nashville, and New York City. This is an increase from last month where no metros saw hiring gains. Three metro areas -- Nashville, Miami, Houston -- had hiring above pre-COVID levels, up from 2 last month. While there are industries and metro areas that are outperforming the overall economy, the slowdown in hiring since the Spring has left few areas untouched.
Hiring
The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 0.5% lower in October 2022 compared to last month September 2022. National hiring was 10.6% lower in October 2022 compared to last year October 2021.
The industries with the most notable hiring shifts month-to-month in October 2022 were Farming, Ranching, Forestry (8% higher); Government Administration (3.5% higher); and Consumer Services (2% higher).
Table 1: Hiring on LinkedIn, by Industry, through October 2022
Industry | Oct-21 | ··· | Jul-22 | Aug-22 | Sep-22 | Oct-22 | MoM% Change | YoY% Change |
Accommodation | 1.11 | ··· | 1.00 | 1.05 | 1.02 | 1.01 | -0.8 | -8.4 |
Administrative and Support Services | 1.22 | ··· | 1.16 | 1.20 | 1.10 | 1.10 | -0.1 | -10.2 |
Construction | 1.22 | ··· | 1.16 | 1.29 | 1.25 | 1.19 | -5.1 | -2.3 |
Consumer Services | 1.09 | ··· | 1.12 | 1.14 | 1.13 | 1.15 | +2 | +5.1 |
Education | 1.22 | ··· | 1.16 | 1.21 | 1.22 | 1.22 | +0.4 | +0.1 |
Entertainment Providers | 1.17 | ··· | 0.95 | 1.03 | 1.01 | 1.00 | -1.2 | -14.2 |
Farming, Ranching, Forestry | 1.39 | ··· | 1.17 | 1.30 | 1.13 | 1.22 | +8 | -12.2 |
Financial Services | 1.32 | ··· | 1.17 | 1.29 | 1.25 | 1.23 | -1.9 | -7.4 |
Government Administration | 1.09 | ··· | 1.02 | 1.11 | 1.05 | 1.08 | +3.5 | -0.7 |
Holding Companies | 1.29 | ··· | 1.05 | 1.17 | 1.03 | 0.99 | -4.3 | -23.3 |
Hospitals and Health Care | 1.23 | ··· | 1.16 | 1.30 | 1.17 | 1.17 | +0.3 | -5.1 |
Manufacturing | 1.19 | ··· | 1.11 | 1.13 | 1.11 | 1.06 | -4.4 | -11.3 |
Oil, Gas, and Mining | 1.12 | ··· | 1.02 | 1.09 | 1.07 | 1.02 | -4.1 | -8.5 |
Professional Services | 1.28 | ··· | 1.08 | 1.16 | 1.10 | 1.08 | -1.6 | -15.6 |
Real Estate and Equipment Rental Services | 1.26 | ··· | 1.13 | 1.18 | 1.07 | 1.04 | -3 | -17.6 |
Retail | 1.01 | ··· | 0.92 | 0.96 | 0.91 | 0.89 | -2.1 | -12.5 |
Technology, Information and Media | 1.43 | ··· | 1.29 | 1.26 | 1.21 | 1.19 | -1.7 | -17.1 |
Transportation, Logistics, Supply Chain and Storage | 1.37 | ··· | 1.27 | 1.30 | 1.30 | 1.27 | -2.4 | -7.4 |
Utilities | 1.06 | ··· | 1.22 | 1.37 | 1.34 | 1.31 | -2.6 | +23.3 |
Wholesale | 1.14 | ··· | 1.03 | 1.07 | 1.00 | 1.00 | -0.4 | -12.2 |
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 Lafayette, IN. For every 10,000 LinkedIn members in College Station-Bryan, TX, 233 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, 135 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.
