Brian Xu | LinkedIn Insights Q3 2021

Audio Transcript Auto-generated

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  Hello. I'm brian shoe, I'm a senior data scientist that

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  linked in and I'm here to deliver you some economic

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  insights. Let's get into it today.

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  We're focusing on the great reshuffle and this is characterized

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  by how professionals and companies rethink how where and how

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  we hire as we emerge from the pandemic.

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  So the first thing we're gonna do is how we

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  work. Um The big thing here is remote work, remote

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  work has emerged from being a coveted perk to come

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  and work as remote jobs are being offered more by

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  companies and pursued more by job seekers.

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  And so what this means is As a pandemic began

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  in March 2020, there's about 1.5% of jobs on the

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  platform were remote jobs.

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  Now that's increased to 11.2 really big increase here.

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  And of these jobs, they're also getting an outside proportion

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  of job views.

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  So 23.8% of job views and 28% of job applications.

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  And so these jobs are very popular right now.

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  The industries in which there highest concentration of remote jobs

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  is sovereign.

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  It, the media communication and then wellness and fitness.

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  Um Job transitions is something else we looked at and

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  they've rebounded amid the pandemic driven slowdown.

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  And so the share of US members changing jobs is

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  6.7 times higher than the previous pandemic level in july

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  2019. So we have seen uh increase in change job

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  velocity as we have emerged from pandemic.

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  And this activity peaked about in June compared to two

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  years ago.

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  Up 37%.

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  And it also marks the ninth consecutive month that this

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  share of job transitions is higher than pre pandemic levels

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  two years ago.

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  And so we're seeing a lot of movement in the

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  labor market right now.

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  Next thing we want to talk about is where we

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  work, where people moved since the pandemic.

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  And so these are some of the places where we've

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  seen most increase.

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  Miami, Jacksonville, Greenville, Austin Tampa.

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  A lot of these cities are in the south.

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  Um They offer generally stronger affordability compared to some of

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  the coastal cities um East and west coast.

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  Um These experienced the greatest inflow outflow ratio increases from

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  March to july this year compared to the pandemic.

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  And so then what does it look like on the

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  flip side if san Francisco Minneapolis.

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  Portland, Chicago Seattle have seen the greatest decreases.

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  Um In this ratio as we have emerged kind of

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  emerged from the pandemic um how we hire.

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  So hiring in the U.

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  S. Has slowed recently after returning to pre pandemic levels

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  in May 2021.

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  And so in july it was a little bit lower

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  than in june but it was still higher compared to

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  last year.

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  Pre pandemic.

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  The job market recovery is still moving much faster than

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  at the beginning of the year despite some uneven games

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  here and there sometimes a couple steps forward one step

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  back but we're seeing generally gradual recovery in that aspect.

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  And so in july especially for 24 industries that are

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  strongest hiring level since pre covid arts, recreation, travel, hardware,

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  networking and software, 90 recreation and travel is something I

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  want to call out.

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  Um As an industry that suffered a lot during the

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  pandemic, as a lot of these service jobs were in

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  person and got shut down and a lot of these

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  places are starting to rehire and really get business back

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  again. Um.

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  Oh yeah, that's exactly what I just said.

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  I anticipated the slide there.

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  Um That's it for this quarter.

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  We'll see you next time.

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  Bye.