November 2022 Jobs Recap: November job listings show cooling labor demand

LinkUp data shows employers created fewer listings in November, as the count of new job listings dropped 12.3% month-over-month. Additionally, fewer listings were taken down, as removed listings fell by 3.2% from October to November.

November’s decline follows an annual trend seen since March of this year. Total active listings have fallen 21.4% since peaking in March at 5.97M. The number of new monthly listings has continued to decline, falling 32.5% since a peak in March of 2.17M.

JOBS DATA BY STATE

Job listings fell in nearly every state last month, with Mississippi (-11.3%), District of Columbia (-11.3%), Arkansas (-9.7%), New York (-9.5%), and Texas (-8.4%) showing the largest declines. Montana saw only a slight decrease of 0.1%.

Just two states experienced growing job demand. Wyoming’s job listings grew by 2.1% while Hawaii saw a slight increase (+.08%).

JOBS DATA BY INDUSTRY

Job listings were down across all industries from October to November. Three industries experienced declines month-over-month that exceeded 10%: Information (-15.9%), Management of Companies and Enterprises (-11.0%), and Finance and Insurance (-10.4%).

Additionally, Retail Trade listings accounted for 20.3% of total active listings in November – more than any other industry. Following closely behind, listings in Health Care and Social Assistance accounted for 18.2% of total active listings.

JOBS DATA BY OCCUPATION

In addition to downward trends across industries, LinkUp observed declining active listings across all occupation categories month-over-month. Listings for Computer and Mathematical occupations decreased the most, falling 12.1% from October to November.

S&P 500 LINKUP JOBS INDEX

The S&P 500 LinkUp Jobs Index measures open jobs posted by companies that are included in the S&P 500. According to this index, listings were down 5.6% month-over-month as of November 28th, with declines across all sectors – including a 12.4% drop in Communications Services and a 6.3% drop in Real Estate.

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