This week, Aspen Tech Labs announced the release of its Q3 2023 U.S. Job Market Pulse Report, highlighting trends and new data across the U.S. job market landscape from the past quarter. 

The new quarterly report by Aspen Tech Labs, the fourth of its kind, offers valuable insights for job seekers, employers and businesses aiming to stay competitive in the evolving job market landscape. It highlights the impact of salary transparency legislation, regional variations and changes in job categories, providing a comprehensive understanding of the Q3 2023 job market.

Key Highlights

1.20%
Percent decline in U.S. job vacancies from July 3rd, 2023 – Oct. 2nd, 2023. Georgia experienced the most significant decline with a decrease of 4.3%, whereas Vermont saw the most substantial increase with a growth of 8.8%.

30.5%
Percent of vacancies that have salary data. This is an increase of two percentage points from last quarter. New York saw a 10 percentage point increase in September on the heels of new salary transparency legislation. 

“Job seekers want to see salaries in job listings,” said Michael Woodrow, founder of Aspen Tech Labs. “With more companies including this information in listings, workers are getting their wish. Still, most businesses avoid disclosing salary ranges for fear of losing a competitive advantage on the recruiting front. Like most matters in hiring, this issue is complex. But wage transparency, on the whole, is a win for the parties involved.”

734,000
Average number of new vacancies added each week. In total, there were more than 16 million active listings during the quarter.

$1,400/yr
Decrease in full-time median salary from last quarter. The median part-time wages saw no change. The salary information only includes salaries posted in job vacancies.

$100,000
The media full-time salary in Washington, DC, the highest median salary in the nation. The range is significant: from nearly $100,000 in Washington, DC, to a mere $40,560 in Mississippi. Both numbers show shifts; as of Q2, DC’s median salary was closer to $85,000 and Mississippi ranked third-to-last with a median salary north of $42,000.

For more information, view the entire report here.

Drew Lord

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Drew supports day-to-day organization operations and special initiatives across RMC, helping lead content partnerships, development initiatives, and cross-departmental project management. Before joining RMC, Drew served as chief of staff at an early-stage start-up helping build an AI-enabled B2B product, and has held roles at DoorDash and JPMorgan Chase. He graduated from Cornell University, where he earned his bachelor's degree.