LinkedIn's Economic Graph

💡According to a LinkedIn survey, 92% of US executives believe that soft skills are more critical than ever. And our research shows that workers with key soft skills get promoted 8% faster than those with only technical skills. As AI continues to evolve and change the workplace, prioritizing these uniquely human skills is crucial for building both resilient careers and resilient businesses. “For humans at work, what’s not going to change — and, if anything, will become even more important — is how we relate to one another and work well together to bring out the most creative and innovative ideas that only the human brain can conjure.” — Aneesh Raman, Chief Economic Opportunity Officer at LinkedIn To help you navigate this sea change, LinkedIn for Learning has curated 36 courses aimed at developing these essential human skills — and they’re all available for free through December 31! Learn more: https://lnkd.in/gkjq5c_b 

Labor market trends across the Asia-Pacific region show that hiring is improving, but not at the same pace everywhere. Countries are experiencing varied hiring and job search trends, showing different economic outlooks across the region. Here’s what LinkedIn data and other economic indicators are showing: 📌 In Australia, hiring is down 15.5% year-over-year (YoY) and job search intensity increased by 5.9% from January to July, with inflation posing challenges for economic growth. These trends indicate heightened competition among job seekers in a slow market. 📌 In India, hiring decreased by 3.6% YoY and job search intensity rose by 5.3% from January to July. After several months of decline, inflation ticked up this month. However, strong economic growth provides India with more fiscal and monetary policy options. These trends signal a growing economy with active job transitions. 📌 In Singapore, hiring is down 14.2% YoY and job search intensity has increased by 7.8% from January to July. Inflation remains stable, and the GDP outlook for 2024 is positive. These trends suggest that the economy might be starting to grow as companies increase hiring and workers explore new opportunities. Read more from Pei Ying CHUA, Head Economist, APAC at LinkedIn: https://lnkd.in/gSvsJu_t 

Let’s unpack “The Big Stay” trend, which is the idea that US workers are sticking to their jobs due to slower hiring and fewer opportunities. Here’s what LinkedIn data is telling us: 🔍 The “Big Stay” isn’t sweeping the job market, but “Little Stays” are happening in certain industries, like Information and Professional Services, largely driven by declines in hiring and available opportunities. 📈 Quit rates are well above historic lows — 8 out of 15 sectors have an average quit rate at least 50% higher than past lows. ⏳ Hiring has slowed since the Great Reshuffle — a period between 2021 and 2022 when workers were changing jobs at record levels — so fewer people are quitting due to fewer job openings. Explore the findings in new research from Kory Kantenga, Ph.D., Head of Economics, Americas at LinkedIn: https://lnkd.in/BigStay

🌍📈 Job seeking intensity has surged in the Eurozone this year, outpacing the Americas, with Italy being the only exception. The Netherlands, France, and Germany are leading with an over 8% increase in job seeking. Meanwhile, the US, Mexico, Brazil, and Canada have seen less than a 4% rise. Despite ongoing increases in the Canadian unemployment rate, job seeking intensity in Canada dipped slightly. Get the latest read on this month's State of the Labor Market updates from Kory Kantenga, Ph.D., Head of Economics, Americas at LinkedIn: https://lnkd.in/gh5-HJRt

Did you know? LinkedIn’s Data for Impact program offers free economic data and insights to governments and global organizations, helping them make informed decisions and investments in workforce opportunities. Here are some of the global initiatives our data helped shape over the past few months: 📊 Our insights on AI talent trends and skills informed the OECD - OCDE’s 2024 Digital Economy Outlook and planning efforts for Germany and Egypt.   🎧 We collaborated on a podcast with the Industry Data for Society Partnership, focusing on best practices around data sharing. 💻 Our data identified critical digital skills that shaped the International Labour Organization's training programs for women entrepreneurs. 📈 We contributed to The World Bank’s investment strategy in Argentina and Central America, aiming to boost skills and advance equitable employment outcomes in those regions. Looking ahead, we'll contribute to ongoing conversations around green and digital transitions with partners like the International Energy Agency (IEA) and the European Central Bank. Learn more about our Data for Impact program from Rosie Hood, PhD, and Casey Weston: https://lnkd.in/gaVde5hZ 

As we move through 2024, job seekers are feeling the heat. Our latest State of the Labor Market report reveals a global surge in job seeking, marked by a rise in applications per applicant and intensified competition. 🔑 Highlights: - Rising competition in the US, UK, and Eurozone - Millennials are leading in job seeking, with Gen Z trailing - Worker confidence dipped but is rebounding in several countries For a deeper look, read the full report from Kory Kantenga, Ph.D., Head of Economics, Americas at LinkedIn.

Hiring across the U.S. has slowed this summer, with a 0.8% decrease from June to July and a 7.9% drop compared to last year. The pace of hiring is now slightly below what we saw in January 2024. On a brighter note, 8 out of 20 industries saw hiring gains in July, particularly in Administrative and Support Services, Accommodation and Food Services, and Consumer Services. However, sectors like Farming, Education, and Professional Services experienced notable slowdowns. In the metro areas, hiring slowed across most cities, with Dallas-Ft. Worth being a slight exception (+0.1%). Atlanta is the only city showing an increase in hiring year-over-year (+1.1%), while places like San Francisco, Cleveland, and Houston saw the biggest declines. Learn more about the latest U.S. hiring trends we're seeing in our LinkedIn Workforce Report: https://lnkd.in/gy-cktPs

We analyzed LinkedIn survey and profile data to understand how men and women relocate and found that while moves to new areas where LinkedIn members have few connections only make up 5% of promotions, they account for 40% of the gender promotion gap. In other words, if women were relocating as often as men, we’d likely see the gender gap for promotions narrow significantly. Dig more into the data and learn what actions can be taken to help close this gender promotion gap: https://lnkd.in/gUGtiE92 ✍️: Caroline Liongosari, Matthew Baird, Allie Lewis

Which metro areas are attracting talent? With more workers moving to metro areas, our latest State of the Labor Market report explores which cities are seeing hiring growth and which are not. By analyzing LinkedIn Hiring Rates from January to June across 50 metros worldwide, we pinpointed cities on the rise and those facing declines. Read more on the trends we're seeing from LinkedIn’s Head of Economics, Kory Kantenga, Ph.D.: https://lnkd.in/g8s3Nt-w 

“Sometimes you have a skills gap. Sometimes you have an information gap. And sometimes you have a confidence gap. Hiring on the basis of skills will bridge all three of those gaps and bring in more women and bring this talent that we need into the economy in a fairer more inclusive way.” — Sue Duke, VP Global Public Policy & Economic Graph at LinkedIn Hear more from Sue in conversation with Anne-Marie Slaughter (CEO at New America) on critical steps leaders can take now to shape a more equitable future where more women are able to flourish and advance in the workplace: https://lnkd.in/gfNzH_7G