LinkedIn Workforce Report | United States | November 2023

Published on Nov 3, 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 October 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

The Cooling in Hiring Continues to Moderate: Nationally, across all industries, hiring is up 4.1% in October 2023 compared to September 2023. Hiring is down 13.3% year-over-year, the smallest decline since September 2022. While the pace of hiring has yet to stabilize, these positive trends are a bright spot after a summer of hiring declines.
Most Industries Saw Hiring Gains; Tech Shows Signs of Stabilization: Hiring increased in 19 of 20 industries in October, an increase in breadth from 13 last month. Month-over-month, the industries with the most notable hiring shifts were Administrative and Support Services (+10.2%), Government Administration (+6.4%), and Manufacturing (+6.4%). The industries with the weakest month-over-month hiring were Utilities (-1.4%), Transportation, Logistics, Supply Chain, and Storage (+0.2%), and Oil, Gas, and Mining (+0.6%).

We are starting to see stabilization in the Technology, Information, & Media industry. Hiring in this sector rose in October (+4.9%), the third highest level this year, and by 4.3% in the past 6-months. As we continue to see housing shortages, Construction is an industry where hiring has been up (+7%) over the past six months.
Metros in the South and Southwest see an Uptick in Hiring: Nearly all, 19 of the 20 metros we track saw increased hiring in October, as compared to just 9 last month. Metros with the strongest month-over-month hiring were Atlanta (+9.9%), Austin (+6.9%), and Phoenix (+6.6%). Metros that experienced month-over-month outright net declines, or small increases, were Boston (-0.7%), Minneapolis-St. Paul (+0.9%), and New York City (+1.3%).

When we compare the past six months versus the previous six months (April to October 2023 versus October 2022 to April 2023) we see positive momentum of net inflows to San Francisco (+23.4pp), Austin (+22.4pp), and Minneapolis-St. Paul (+21.1pp) with the biggest percentage point swing. In contrast, during that same timeframe New York City (-2.6pp), Los Angeles (-0.7pp), and Detroit (-0.4pp) experienced some of the weakest momentum.

Hiring

The LinkedIn hiring rate is a measure of hires divided by LinkedIn membership. Nationally, across all industries, hiring in the U.S. was 4.1% higher in October 2023 compared to last month September 2023. National hiring was 13.3% lower in October 2023 compared to last year October 2022.

The industries with the most notable hiring shifts month-to-month in October 2023 were Administrative and Support Services (10.2% higher); Government Administration (6.4% higher); and Manufacturing (6.4% higher).

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

Industry	Oct-22	···	Jul-23	Aug-23	Sep-23	Oct-23	MoM% Change	YoY% Change
Accommodation and Food Services	1.01	···	0.92	0.89	0.90	0.92	+2.6	-8.7
Administrative and Support Services	1.08	···	0.86	0.83	0.85	0.94	+10.2	-13.7
Construction	1.20	···	1.12	1.10	1.11	1.15	+3.8	-4
Consumer Services	1.13	···	1.00	0.92	1.04	1.10	+6.2	-2.3
Education	1.22	···	1.08	1.08	1.06	1.11	+5.1	-8.8
Entertainment Providers	0.97	···	0.86	0.85	0.86	0.88	+1.5	-9.5
Farming, Ranching, Forestry	1.23	···	1.05	1.00	1.04	1.05	+0.9	-14.6
Financial Services	1.23	···	0.92	0.88	0.91	0.94	+3	-23.4
Government Administration	1.10	···	1.08	0.94	1.02	1.09	+6.4	-0.5
Holding Companies	1.07	···	0.66	0.69	0.69	0.72	+3.7	-33
Hospitals and Health Care	1.17	···	1.13	1.05	1.03	1.08	+4.5	-7.7
Manufacturing	1.07	···	0.90	0.86	0.87	0.92	+6.4	-13.7
Oil, Gas, and Mining	1.04	···	0.87	0.86	0.86	0.86	+0.6	-17.3
Professional Services	1.04	···	0.82	0.82	0.83	0.85	+2.9	-17.5
Real Estate and Equipment Rental Services	1.05	···	0.97	0.94	0.94	0.95	+1.2	-9.5
Retail	0.91	···	0.77	0.72	0.74	0.75	+1.5	-17.5
Technology, Information and Media	1.12	···	0.73	0.73	0.77	0.81	+4.9	-27.9
Transportation, Logistics, Supply Chain and Storage	1.25	···	1.04	1.03	1.03	1.03	+0.2	-17.6
Utilities	1.38	···	1.23	1.15	1.15	1.13	-1.4	-18
Wholesale	1.00	···	0.83	0.74	0.84	0.86	+2.3	-14.7

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; Urbana-Champaign, IL; and Gainesville, FL. For every 10,000 LinkedIn members in College Station-Bryan, TX, 114 left in the past 12 months.

The U.S. cities gaining the most people are North Port-Sarasota, FL; Tampa Bay, FL; and Jacksonville, FL. For every 10,000 LinkedIn members in North Port-Sarasota, FL, 97 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.