New York's labor market has too many bankers and not enough engineers, says LinkedIn - Brooklyn


Jun. 16, 2017 12:59 pm

New York’s labor market has too many bankers and not enough engineers, says LinkedIn

A new report from LinkedIn makes the case. Also, it's true that everyone is moving to LA.

Some banks appear interested in adding gloss to the blockchain.

(Photo by Attribution Engine user Alex Mihis, used under a Creative Commons license)

Is it possible there are actually too many bankers in New York?

While far from perfect, LinkedIn publishes a pretty neat jobs report each month. It showed that in May, job growth (hiring rate) was basically flat from the month before, down 0.2 percent. Compared to May of last year, they were down 1.4 percent.

But what was most interesting in the numbers was the list LinkedIn does of oversupply and undersupply of different kinds of jobs:

  • It found that the jobs where workers are in the most oversupply were in Trading and Investment and General Finance.
  • The areas with the highest scarcity of workers were in Sales and Healthcare Management, with Mechanical and Aerospace Engineering and IT Infrastructure and System Management at No. 4 and No. 6.
Labor migration, according to LinkedIn.

Labor migration, according to LinkedIn. (Screenshot)

The report also has an interesting section on migration. The top three cities New York has gained workers from were Bangalore, India, Boston and Chicago. The top cities New York lost workers to were (you guessed it) Los Angeles, San Francisco and Seattle.


Read the full report


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