March Workforce Report: Jobs gain keep momentum
Demand for teachers a proxy for economic health
February saw a steady number of jobs added to the U.S. economy, up 20 percent year-over-year, according to the March LinkedIn Workforce Report. Hiring in the aerospace, automotive and transportation industries saw the biggest year-over-year increases, followed by architecture and engineering, and financial service and insurance.
Seasonally adjusted hiring was down nearly 9 percent month-over-month from January, bringing hiring back to the still-elevated levels we saw in the second half of 2017.
Other key insights:
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 supply is, too. In cities with net migration outflows, like Cincinnati, Hartford, and Milwaukee, both supply and demand growth for teachers are notably 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.
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.
Click here to read our March LinkedIn Workforce Report, including which cities are losing the most workers, and which are gaining the most.
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. This gives us unique insights into U.S. workforce trends.
The LinkedIn Workforce Report helps workers better navigate their careers by highlighting workforce trends in the U.S. and across 20 cities. Insights include whether hiring is up, down, or flat, which skills cities need most, and where workers are moving to and from.