American workers are clamoring for remote jobs right now, but the number of available positions is in short supply.
U.S. remote job postings on LinkedIn dropped by 9% between January 2022 and December 2023, according to the company’s Global State of Remote and Hybrid Work report published earlier this month. And although remote jobs only accounted for 10% of open roles in December, they received 46% of all applications. That means that competition for remote jobs is nearly five times that of non-remote positions.
There are a few reasons for the remote job pullback in 2023, LinkedIn senior economist Kory Kantenga told Fortune. Sectors that were offering more remote jobs, like finance, technology and professional services, have been struck with layoffs and “economic headwinds.”
“These are the sectors that really allow a lot of remote work compared to others. And those sectors have been hit quite hard,” says Kantanga. “Their demand for labor has definitely gone down. They've had a correction from the pandemic recovery.”
Another important change is the transformation of jobs that were formerly remote into hybrid roles, as more and more managers try to get employees back into the office for at least part of the week. Business leaders including L’Oréal’s Nicolas Hieronimus, WebMD’s Bob Brisco, and JPMorgan Chase’s Jamie Dimon, have not been shy about their dislike of work from home.