Is the Hiring Boom Over? (Hint: not when you partner with BOS!)

Wondering which industries are hiring and where you can find the best opportunities? The latest LinkedIn Workforce Report offers insights into national hiring and migration trends through November 2022—and suggests the U.S. labor market is beginning to slow. 

 

Hiring Declines Across Industries

After a steady summer, U.S. hiring seems to be slowing down nationally across all industries: 

  • falling 4.9% from October to November 2022 
  • and 20.5% year-over-year 

 

Hiring is now 11.8% below pre-pandemic levels and shows a month-over-month decline in 17 of 20 measured industries. The industries still showing hiring gains include: 

  • Government Administration (+0.7%) 
  • Education (+0.4%) 
  • Transportation, Logistics, Supply Chain & Storage (0.4%) 

 

While the largest month-over-month declines occurred in the following industries: 

  • Technology, Information and Media (-14.6%) 
  • Manufacturing (-8.4%) 
  • Oil, Gas and Mining (-7.8%)  

 

After seeing huge hiring gains during 2020, hiring in Tech, Information, and Media is at its lowest level since July of 2020, possibly due to hiring leveling out following the pandemic. 

 

Metro Areas See Hiring Declines

Hiring declined month-over-month in all 20 tracked metro areas, with the largest month-over-month declines in Boston, Minneapolis, and Miami/Ft. Lauderdale and the smallest declines in Phoenix, Chicago, and New York City.

  

Migration Creates Job Opportunities

Looking to relocate and wondering where you might find your next opportunity? According to the Report, the U.S. cities losing the most people are College Station-Bryan, TX; State College-Dubois, PA; and Tallahassee, FL. Which three cities grew the most over the last 12 months? Austin, TX; North Port-Sarasota, FL; and Tampa Bay, FL. These cities might offer new opportunities, whether you’re looking for job openings or signs of a growing economy. 

Hiring may be declining across industries, but Atlanta has seen one of the smallest declines since April! BOS Staffing can help you find rewarding work in various industries, including security, healthcare, office and professional, skilled manufacturing, IT, and more. Contact BOS Staffing for expert career guidance in a tough market! 

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