November 2024 Jobs Recap

Key Takeaways:

The slowdown in job creation and postings in November 2024 stems from economic uncertainty, inflation concerns, and cautious hiring amid persistent interest rate adjustments. Major corporate layoffs in tech, finance, and other sectors, along with a decline in the job-finding rate and slower services sector activity, further reflect employer hesitancy to expand their workforce.

U.S. Job Listings by Month | January 2020 - November 2024

The graph illustrates monthly job listing trends in the U.S., comparing new and removed job postings alongside total active listings.

LinkUp 10,000

The LinkUp 10,000 is an analytic published daily and monthly that captures the total U.S. job openings from the 10,000 global employers in LinkUp’s jobs dataset with the most U.S. openings.

November saw a significant contraction in the job market, with the LinkUp 10,000 index declining 8.5% from the prior month. This marks a continuation of the downward trend observed since July, as active job listings fell to 4.42M, down from 4.83M in October. The current figure also represents a 9.3% decrease compared to November 2023, further emphasizing the cooling labor market.

Monthly LinkUp 10,000 | January 2021 - November 2024

Jobs Data By Industry (NAICS)

We're seeing a drop in all the sectors for the month of November. The top ones being:

• Public Administration (-89k)

• Accommodation and Food Services (-44.9k)

• HealthCare and Social Assistance (-42.2k)

Job Listings by Industry (NAICS) | November 2024

This chart displays the change in job listings across various industries, categorized by NAICS codes.

Jobs Data By Occupation (O*NET)

Reflecting the decrease in job postings across U.S. industries this month, all occupational groups experienced a decline in hiring. The top three were:

• Food Prep and Serving (-44.2k)

• Sales and Related (-44.1k)

• Healthcare Pract and Tech (-40k)

Job Listings by Occupation (O*NET) | November 2024

This chart displays the change in job listings across various occupations, categorized by O*NET codes.

Closed Duration

Closed duration, or the average number of days job listings remain live on company websites before removal, tracks hiring velocity across the U.S. economy. As the average duration increases, hiring velocity slows.

In November, the closed duration rose to 43.8 days, up from 41.1 days in October. This increase indicates a continued slowdown in hiring as companies deliberate over workforce decisions amid economic uncertainties and cautious business strategies.

U.S. Job Listing By Month | January 2020 - November 2024

Jobs Data By State

During the month of November, all the states in the United States saw a decrease in job listings from October. The states that saw the largest increases:

• Maine (-22.4%)

• Puerto Rico (-18.2%)

• Montana (-15.3%)

Percent Change in Active Job Listings by State (Month-Over-Month) | November 2024

Companies Added

Every month, LinkUp indexes new companies to our database. In November, LinkUp added 567 additional employer websites.

DATA DISCLAIMERS

LinkUp’s monthly data recaps incorporate revisions to previously-reported monthly data with the purpose of reporting the most accurate and up-to-date data points. For more information on what circumstances may impact data revisions, visit our Data Support Center.