Job promotions are down compared to last year, especially in the tourism industry

Job promotions are down compared to last year, especially in the tourism industry
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  • A newly published Workforce Insights report by George Anders, LinkedIn’s senior editor at large, using research from the social network’s Economic Graph team examined year-over-year changes for hiring and promotions.
  • In August, promotions are 40% below last year's leve, while hiring is about the same as last year.
  • Anders notes that the end of April 2020 saw the worst year-over-year decline since the start of the pandemic, with promotions 60% below levels during the same time last year.
  • Data for the study was collected from LinkedIn profiles. To calculate promotion rates, LinkedIn researchers used a 14-day rolling sum of promotions and divided this by the number of profiles in the country.
  • Promotions were identified as “LinkedIn members who add a new, higher seniority position at the same employer to their profile in the same month the new job began,” LinkedIn wrote in their methodology.
  • Anders wrote that one reason for this lack of promotions is due to freezes amid the pandemic, such as at Google; Google performance reviews have since resumed after announcing a pause in March.
  • Additionally, LinkedIn found the recreation and travel industry, one of the hardest hit industries in terms of drop in demand and job losses during the pandemic, saw one of the largest year-over-year declines as of August 20, where promotions were down 63.2% from the same time last year.
  • A previous Business Insider article reported that you if you are interested in being promoted, you should tell your boss and show you can take on more job duties.