March Workforce Report 2018

March Workforce Report 2018 https://economicgraph.linkedin.com/resources/linkedin-workforce-r...
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Economic Graph
LinkedIn Workforce Report | United States |

March 2018
Published on Mar 7, 2018
Economic Graph Team 0
Over 146 million workers in the U.S. have LinkedIn profiles; over 20,000
companies in the U.S. use LinkedIn to recruit; over 3 million jobs are posted on
LinkedIn in the U.S. every month; and members can add over 50,000 skills to
their profiles to showcase their professional brands. That gives us unique and
valuable insight into U.S. workforce trends.
This LinkedIn Workforce Report is a monthly report on employment trends in

the U.S. workforce. It’s divided into two sections: a National section that
provides insights into hiring, skills gaps, and migration trends across the
country, and a City section that provides insights into localized employment
trends in 20 of the largest U.S. metro areas: 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.
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Our vision is to create economic opportunity for every worker in the global
Economic
workforce. Graph you’re a worker, an employer, a new grad, or a
Whether
policymaker, we hope you’ll use insights from our report to better understand
and navigate the dynamics of today’s labor market.
Key Insights
February hiring remains strong after January’s spike – In February,
hiring across the U.S. was 20.1% higher than in February 2017. Seasonally-
adjusted hiring was 8.5% lower in February than in January 2018, indicating
that January’s spike in hiring was probably a one-off. That said, February’s
decline merely brought hiring flows back into line with their elevated level
during the second half of 2017. The industries with the biggest year-over-year
hiring increase in February were aerospace, automotive, and transportation
(24.4% higher); architecture and engineering (19.4% higher); and financial
services and insurance (18.8% higher). The recovery in oil and energy hiring
is moderating. While hiring in the oil and energy industry is up 8% relative to
a year ago, it may be that the sector’s employers feel relatively “caught up” to
the recent increase in crude oil prices.
Banks are hiring, but it’s not only where you’d expect – With the
stock market reaching historic heights over the past year, we wanted to see
whether there were any related trends in the jobs market for trading and
investment skills. Unsurprisingly, New York City, Chicago, and Los
Angeles—the country’s biggest cities and financial centers—take the lead for
most people hired with trading and investment, risk management, and
financial planning skills. But in terms of growth, the cities with the fastest-
growing hiring markets for the same skills are Kansas City, Salt Lake City,
Raleigh-Durham, San Antonio, and Austin. In fact, Kansas City saw the
biggest relative spike in hiring for these financial skills of any city in the U.S.
Regional banks and asset managers, as well as regional outposts of national
banks, are driving hiring growth in these mid-sized Midwestern and
Southeastern cities.
Growing cities need teachers – When a city’s economy booms and

attracts new residents, it creates a corresponding demand for teachers to
educate the growing community. In fast-growing cities like Las Vegas,
Orlando, Phoenix, Raleigh-Durham, and San Antonio, which are expanding
rapidly from migration inflows, demand for teachers is growing quickly—and
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supply is, too. In cities with net migration outflows, like Cincinnati, Hartford,
andEconomic Graph both supply and demand growth for teachers are notably
Milwaukee,
weak. In Oklahoma City, where low pay for teachers has been a hot-button
issue in recent years, demand for teachers is starting to pick up. Among the
cities we track, there are a number of hot markets for teachers—and some
aren’t far from Oklahoma City. Denver is #6 in highest demand for teaching
and education skills, followed closely by Austin (#7), Raleigh-Durham (#8),
and Minneapolis-St. Paul (#9). The U.S. cities with the highest demand for
teaching and education skills overall are the booming cities of San
Francisco, Washington, D.C., Boston, New York City, and
Seattle. The supply of teachers in these cities is low relative to demand,
potentially due to the high cost of living.
February hiring remains strong after January’s spike

In February, hiring across the U.S. was 20.1% higher than in February 2017.
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Economic Graph
Seasonally-adjusted hiring was 8.5% lower in February than in January 2018,

indicating that January’s spike in hiring was probably a one-off. That said,
February’s decline merely brought hiring flows back into line with their elevated
level during the second half of 2017.
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Economic Graph
Industry Hiring
The industries with the biggest year-over-year hiring increase in February were
aerospace, automotive, and transportation (24.4% higher); architecture and
engineering (19.4% higher); and financial services and insurance (18.8% higher).
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The recovery in oil and energy hiring is moderating. While hiring in the oil and
energyEconomic Graph
industry is up 8% relative to a year ago, it may be that the sector’s
employers feel relatively “caught up” to the recent increase in crude oil prices.
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Banks are hiring, and it’s not only where you’d expect
With the stock market reaching historic heights over the past year, we wanted to
see whether there were any related trends in the jobs market for trading and
investment skills. Unsurprisingly, New York City, Chicago, and Los
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Angeles—the country’s biggest cities and financial centers—take the lead for
Economichired
most people Graphwith trading and investment, risk management, and financial
planning skills.
But in terms of growth, the cities with the fastest-growing hiring markets for the
same skills are Kansas City, Salt Lake City, Raleigh-Durham, San Antonio, and
Austin. In fact, Kansas City is the #1 fastest-growing U.S. city for hiring of both
trading and investment skills and risk management skills. Regional banks, as
well as regional outposts of national banks, are driving hiring growth in these
mid-sized Midwestern and Southeastern cities.
The misalignment between the skills people have (supply) and the skills
employers need (demand) is a skills gap. Skills gaps are fundamentally local, and
specific to the supply and demand of individual skills. There is an abundance, or
surplus, of skills when supply exceeds demand. There is a scarcity, or shortage, of
skills when demand exceeds supply. A city with a scarcity of skills needs more
people with certain skills, while a city with an abundance of skills has too many
people with certain skills.
Skills gaps can be narrowed by people moving to cities where their skills are in
demand; by businesses opening up shop in cities where there’s an abundance of
the skills they need; by training people to learn the skills that are in demand from
employers; and by employers offering higher pay for in-demand skills. In order
to narrow skills gaps, cities should seek to understand the dynamics of their own
labor markets and create policies to align education and training with employer
needs.
The U.S. cities with the largest skills gaps overall are the San Francisco Bay
Area, Washington, D.C., and Austin. Each of these cities has a scarcity-
driven skills gap, which means there is a high unfilled demand for workers with
certain skill sets such as healthcare management, or education and teaching. To
see which other skills are in scarcity, check out the San Francisco Bay Area,
Washington, D.C., and Austin City Reports.
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The San Francisco Bay Area, Austin, and Washington, D.C. have the
greatest scarcity of skills, relative to other U.S. cities. For details on which skills
are in high demand, check out their City Reports.
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The cities with the greatest abundances of skills, relative to other U.S. cities, are
West Palm Beach, Miami-Ft. Lauderdale, and Hartford.
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Check out the City 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 skills are most scarce in those
cities, and which jobs are open.
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Growing cities need teachers
Economic Graph
When a city’s economy booms and attracts new residents, it creates a
corresponding demand for teachers to educate the growing community. In fast-
growing cities like Las Vegas, Orlando, Phoenix, Raleigh-Durham, and San
Antonio, which are expanding rapidly from migration inflows, demand for
teachers is growing quickly—and supply is, too. Las Vegas, for instance, is #4 on
our list of cities gaining the most workers over the past year. In cities with net
migration outflows, like Cincinnati, Hartford, and Milwaukee, both supply and
demand growth for teachers are notably weak. There is a strong correlation
between economic growth and growth in demand for teachers.
In Oklahoma City, where low pay for teachers has been a hot-button issue in
recent years, demand for teachers is starting to pick up. A year ago, the hiring
market for teachers was effectively stagnant, with the lowest hiring frequency for
teachers among the 50 largest U.S. cities. Since then, Oklahoma City has
improved very slightly, from #50 to #48.
For teachers in Oklahoma City considering a move, the good news for is that,
among the cities we track, there are a number of hot markets for teachers—and
some aren’t far from Oklahoma City. Denver is #6 in highest demand for
teaching and education skills, followed closely by Austin (#7), Raleigh-Durham
(#8), and Minneapolis-St. Paul (#9). There are other cities with large shortages
of teaching skills further afield, albeit in more expensive coastal cities, as well as
in cities nearby with more neutral hiring markets for teachers, including
Indianapolis (#14) and Nashville (#15).
The U.S. cities with the highest demand for teaching and education skills overall
are San Francisco, Washington, D.C., Boston, New York City, and
Seattle. These cities have large populations, booming economies, and relatively
high costs of living. Demand for teaching and education skills in these cities is
high, but not growing much; high costs of living in these cities likely keep the
supply of teachers low.
Net inward migration is a strong indicator of economic growth and of economic

opportunities— and the U.S. cities gaining the most people overall are Denver,
Austin, and Seattle. For every 10,000 LinkedIn members in Denver, 66.5
arrived in the last 12 months.
The cities losing the most people are Hartford, Providence, and Pittsburgh. For
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every 10,000 LinkedIn members in Hartford, 56.2 left in the past 12 months.
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Austin, Orange County, and San Diego are the U.S. experiencing the most total
migration (workers moving into and out of a city). This list captures the most
transient cities. For every 10,000 LinkedIn members in Austin, 545.1 arrived in
or left the city in the last 12 months.
Check out the City 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 skills are most scarce in those
cities, and which jobs are open.
Related Topics
United States | February 2018
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United States | January 2018
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March Workforce Report 2018 https://economicgraph.linkedin.com/resources/linkedin-workforce-r...

LinkedIn Workforce Report | United States |

Economic Graph Team 0

This LinkedIn Workforce Report is a monthly report on employment trends in

Growing cities need teachers – When a city’s economy booms and

February hiring remains strong after January’s spike

Seasonally-adjusted hiring was 8.5% lower in February than in January 2018,

Net inward migration is a strong indicator of economic growth and of economic

United States | February 2018

United States | January 2018

The latest Economic Graph updates are on our LinkedIn page

Visit and follow

© LinkedIn Corporation 2018

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