- The number of available remote and flexible job options is declining, according to a new study from LinkedIn.
- Remote jobs dropped to 14% of all listings in September, down from a peak of 20% in February.
Many office workers have welcomed the flexibility of remote and hybrid working options, but those jobs may be drying up, a new study shows.
According to LinkedIn's October 2022 Global Talent Trends report, employers are scaling back remote offerings in anticipation of an economic downturn, even as flexibility remains a top priority for job seekers. After job openings with remote options peaked in February at 20% of all listings, they dropped to 14% in September, which is the most recent statistic, LinkedIn data shows.
These changes come as hiring begins to slow, coming off record-high growth in 2021, according to LinkedIn. In the US, hiring rates dropped 13% in September 2022 versus the same time the year prior. The shifts also follow a rise in mandates for workers to return to the office at companies like Amazon, Apple, and Google, creating rifts in their workforces.
"This year we are seeing a slower pace of growth, as the economy comes back down to earth after a meteoric rise last year in one of the fastest recoveries we have ever seen," LinkedIn chief economist Karin Kimbrough said in the report.
She continued: "Nevertheless, labor-market dynamics remain tight. So, in many ways, employees still hold the power to demand more from their employers when it comes to salary, flexibility, and benefits. But this power balance is likely to start leveling out in the coming months."
Flexibility was listed as the third most important priority to candidates, after compensation and balance, according to a LinkedIn survey conducted in August 2022. The data further found that the US leads the remote work trend globally, followed by the UK, Germany, and India, based on number of applicants for remote-friendly jobs.
Even with a shrinking number of remote jobs, Jennifer Shapley — LinkedIn's vice president of global talent acquisition — said she anticipates job flexibility will remain a major priority for candidates.
"Even facing an uncertain future, people still highly value two areas of work life that have gotten a lot of attention since the start of the pandemic: work-life balance, and flexible-work arrangements – including remote work. I expect those two attributes to remain top talent drivers for years to come," Shapley said in the report.
According to the report, demand for flexible work options continues to increase even as availability declines. LinkedIn's data shows that during the February peak, remote job postings attracted 50% of all applications — by September, as availability started to drop, that percentage increased to 52%.