LinkedIn's Economic Graph

This month, the US Federal Reserve made its first interest rate cut in over four years, signaling a shift from tightening to easing as central banks respond to rising unemployment in the US, UK, Canada, and Eurozone. A key question is: Are global labor markets resilient enough to handle the gradual lowering of interest rates? In our latest State of the Labor Market update, we take a closer look at hiring trends and job seeker competition in today’s mixed macroeconomic environment. While growth is anticipated, we’re noticing a slowdown outside emerging economies and increased competition among job seekers. Read the full report from Kory Kantenga, Ph.D., Head of Economics, Americas, at LinkedIn:

🔔 Our latest report highlights mid-market enterprises (MMEs) — companies with 500–1,000 employees — as a vital engine of the US economy. We dive into real-time data to uncover the fastest-growing industries within this sector and examine how MME professionals are embracing AI and emerging technologies in hybrid work environments. As the skills landscape evolves rapidly, we also uncover key learning and development trends that are shaping the future of these firms. Explore the 2024 Mid-Market Enterprise Economy Report, sponsored by HP, below to see how MMEs are not just adapting to change and how their workforces are preparing for the future. Read more from Sharat Raghavan (Director of Data Science at LinkedIn) and Akash Kaura (Staff Data Scientist at LinkedIn) on the key findings: https://lnkd.in/ggvMUcY9 #LinkedInHPReport

It's #ClimateWeekNYC and sustainability policies and commitments are at the forefront of conversations. LinkedIn data reveals a concerning gap: the global workforce is not on track to meet these ambitions. 💡 We need to double the size of the green talent pool by 2050 — at a bare minimum — just to keep up with employer demand. Without urgent action, nearly half of the green jobs will lack of qualified candidates. The good news: We can take collective action now to ensure we have the workforce needed to meet our climate goals. Read the full LinkedIn Climate Talent Stocktake below and hear from Efrem Bycer, Sr. Lead Manager of Sustainability and Workforce Policy Partnerships at LinkedIn, on how we can address the green skills gap: https://lnkd.in/dgbgC9mj #GreenerTogether #GreenJobs #GreenSkills

Join us in an insightful virtual conversation exploring the critical trends impacting mid-market enterprises (MMEs). LinkedIn’s Chief Economist, Karin Kimbrough, HP's SVP and Managing Director of North America, Anneliese Olson, and LinkedIn’s Director of Data Science and Economic Graph, Sharat Raghavan will share some of the latest findings from LinkedIn’s 2024 Mid-Market Enterprise Economy Report, sponsored by HP. Tune in to hear how these firms (500–1,000 employees) are adapting to technological shifts like AI, navigating economic uncertainties while driving innovation, and more. #LinkedInHPReport 

When it comes to generative AI, you don’t have to be a tech expert or coder to build your skills. Since late last year, we’ve seen a 142x increase globally in LinkedIn members adding AI aptitude skills to their profiles — and it's not just workers in technical roles who are adding those skills. "Employers are keen to take on talent that is familiar and adept with basic AI skills,” says Karin Kimbrough, Chief Economist at LinkedIn. Our data shows that 71% of leaders say they would rather hire a less experienced candidate with AI skills than a more experienced candidate without. So how can you gain critical, in-demand skills for the AI-powered economy? Check out these free LinkedIn for Learning courses and get started today: https://lnkd.in/dTHqwJE

The world of work is changing fast, and leaders must keep pace. New research from LinkedIn sheds light on changes in executive-level roles in the US. Here are some key insights: 📌 The skills needed to lead are shifting, with emotional intelligence and social abilities becoming more important. The top fastest growing soft skills for executives include presentations, strategic thinking, and communication. 📌 The path to leadership is becoming less linear. Execs are coming into roles with more experience across industries, job functions, and companies. For instance, 88% of leaders in executive positions in 2018 had spent their entire careers in a single job function — and this year that percentage is down to 57%. 📌 A new wave of leaders is rising, with more younger workers and women stepping into executive roles. Millennials currently make up 44% of exec roles and are on track to surpass Gen X (currently 48% of exec roles) in 2025. We’ve also seen a 10% increase of women leaders over the past five years. Read more in the complete report below. ✍️: Caroline Liongosari, Silvia Lara, Sharat Raghavan

💡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