Abraham Yousef · December 2022
Workers Scramble to Link to Prospective Employers
Layoffs have surged by over 400% YoY in November, with a 500% rise in job cuts in the tech sector, according to Challenger, Gray & Christmas. As a result, job seekers are under pressure to fight for employment, leading to a 19% YoY increase in app downloads for job search platforms in 3Q22, driven by a 20% and 21% jump in downloads of the Indeed and LinkedIn apps, respectively. User engagement on job search apps is also rising, with growing session count and time spent.
Key Takeaways:
Tumultuous job market is creating pressure on prospective employees, who must fight for employment as businesses freeze or slow hiring and ramp up layoffs
Layoffs have skyrocketed, up over 400% in November from the prior year, driven by an +500% rise in job cuts in the technology sector, according to Challenger, Gray & Christmas
Per Sensor Tower estimates, downloads grew 19% YoY in 3Q22 up from 12% and 10% growth in 2Q22 and 1Q22, respectively
Driven by a 20% and 21% jump in downloads of the Indeed and LinkedIn apps, respectively
MAU growth for the job search cohort has also accelerated in the last 6 quarters from 4.4% YoY in 3Q21 to 12% YoY in 3Q22
User engagement on job search apps is rising, with growing session count and time spent, per Sensor Tower’s Consumer Intelligence platform
Churn rate has remained stable and likely declines as employment market tightens
For more information, request the full report from reports@sensortower.com.
