The post-pandemic honeymoon period for new jobseekers isending as the labor market cools to pre-Covid levels.
Hiring rates, quit rates and job openings per unemployed worker have all returned to early 2020 figures in the U.S., with just 1.2 jobs available per seeker — down from a fantasy ratio of 2:1 at its April 2022 peak. Further, according to resume.io’s new study, the number of applicants per job has risen in every U.S. state in the 12 months since we last analyzed job competition in 2023.
However, there are more encouraging signs in the market. Unemployment in the U.S. has reached a “historically low mark,” there are significantly more job openings in total right now than before the pandemic — with a similar outlook around much of the world. Plus, the recruitment crisis of recent years aligned perfectly with the coming of age of the idealistic Gen Z workforce, giving applicants and employees alike the leverage to push for better conditions in the workplace.
Still, with competition on the rise and an increasingly mobile or remote workforce, it helps to know where the job market is most competitive. That is why Resume.io analyzed 104,260 LinkedIn ads around the U.S. and major global cities to find out.
Methodology Behind Study
To find out which cities have the most and least competitive job markets in 2024, Resume.io calculated the average number of applicants that job advertisements receive within one week of being posted on LinkedIn Jobs in 122 global cities and every U.S. state.
Findings
SEE ALSO: What Are the Most Competitive Companies to Apply for in 2024?
