Recent Market Highlights from LinkedIn 

Insight of the Month

From 2019 to 2022 during the pandemic, the share of workers migrating out of cities to suburbs (+7.1%) and cities to rural areas (+22.4%) increased. Industries like Technology, Information and Media, Professional Services, and Financial Services have experienced the most migration from cities to suburbs. The top suburban destinations are primarily in California and Texas with top 3 suburbs being Beverly Hills, CA; Frisco, TX; and Leander, TX. Learn more

Companies continue to offer less remote and hybrid work, while workers continue to disproportionately apply to these jobs.  Learn more

  • In May 2023, 10.4% (1 in 10) of U.S. paid job postings on LinkedIn offered remote work versus 13.4% (1 in 7) for hybrid work. In May 2022 last year, remote jobs accounted for 18.6% of U.S. paid jobs and have been steadily declining since then, while hybrid jobs have increased from 7% during the same time frame. However, hybrid jobs have now declined for three straight months from a peak of 15.1% in February 2023.

  • In May 2023, paid remote jobs on LinkedIn (10.4% of all paid jobs) attracted nearly half of applications (47.1%) and an outsized proportion of views (41%) while paid hybrid jobs (13.4%) attracted a slightly higher proportion of views (19.8%) and applications (19.4%). Applications to remote jobs have decreased from 51.6% in May 2022 last year to 47.1% in May 2023 while hybrid job applications have increased from 12.8% to 19.4% during the same time.

  • 57.6% of job applicants applied to a remote or hybrid job in May 2023, increasing from 50.7% in May 2022 last year.

  • The industries with the greatest decreases in paid remote job postings from May 2022 to May 2023 are Technology, Information, and Media (42.3% to 20.4%); Government Administration (22.6% to 8.4%); and Education (28.1% to 15.1%).

  • The industries with the greatest increases in paid hybrid job postings from May 2022 to May 2023 are Professional Services (8.5% to 30.4%); Financial Services (8.2% to 23%); and Technology, Information, and Media (5.6% to 13.8%).

The top cities for remote work are smaller metros with vacation appeal while top cities for hybrid work are urban metros and college towns. Learn more

  • The metros with the greatest percentage of applications to remote jobs from May 2022 to May 2023 are Bend, OR (73.5%); Asheville, NC (71.5%); Wilmington, NC (71.2%); Myrtle Beach, SC (70.3%); and Spokane-Coeur d’Alene, WA (69.7%).

  • The metros with the greatest percentage of applications to hybrid jobs from May 2022 to May 2023 are New York City, NY (25.8%); Urbana-Champaign, IL (24.2%); Boston, MA (21.1%); Binghamton, NY (19.9%); and State College-DuBois, PA (19.7%).

Hiring sees an uptick but it’s too early to say we’re on the path to recovery. Learn more

  • In May 2023, US hiring increased 3.5% M/M but is still down -21.8% Y/Y. After months of declines, we’ve started to see a small uptick in hiring over the last few months. However, it’s still too early to tell whether we’re on the verge of a more robust, sustainable recovery or if the declines will resume.

  • Comparing the last 6 months from November 2022 to May 2023, the strongest industries for hiring have been Hospitals & Healthcare (+7.2%), Government Administration (+5.6%), and Construction (+3.1%). Over the same 6-month period, the weakest industries have been Wholesale (-19.9%), Technology, Information & Media (-13.7%), and Administrative & Support Services (-12.6%).

  • Technology, Information & Media industry saw a slight rebound in hiring with a +8% M/M increase, which may indicate this industry has approached its bottom for hiring declines.

LinkedIn’s Global Green Skills Report reveals the increasing demand for climate-related skills and jobs as the urgency of fighting climate change increases. Learn more

  • Between 2022 and 2023, the share of green talent in the workforce rose by a median of 12.3% while the share of job postings requiring at least one green skill grew twice as quickly — by a median of 22.4%.

  • Even as overall hiring slowed over the past year, green hiring bucked that trend. While overall hiring slowed globally between February 2022 and February 2023, job postings requiring at least one green skill have grown by a median of 15.2% over the same period.

  • The median LinkedIn hiring rate for workers with at least one green skill is 29% higher than the workforce average.

  • Around the world, only one in eight workers has one or more green skills. Put another way, seven in eight workers lack even a single green skill.