Global Hiring Activity - Trends & Signals Q3 2022

GlobalData’s Job Analytics Trends & Signals Q3 2022 report offers detailed study of job trends, trending geographies, technology themes, top recruiters, trending industries, signals, and new roles.

Q3 2022 Global Hiring Report shows a continuous decline in jobs postings. Companies also carried on with layoffs during the quarter. Some examples include, Wipro, HCL, BBC, and Goldman Sachs. Active Jobs declined 3% in Q3 2022, as closures rose 12% compared to the previous quarter. The US had the most active jobs and witnessed a sequential decline of 2% in Q3 2022. Canada and France had high job closures over postings in this quarter by 12% and 14% respectively while China and Germany posted more jobs than closures over Q2 2022. Technology and Banking and Payments sectors posted the highest jobs, while the Automotive sector had the highest sequential growth. Future of Work and ESG were themes with more posted and closed jobs. Companies continued to focus on ESG initiatives and digital transformation.

A detailed understanding of the various trends and signals in Q3 2022

Themes such as Future of Work and ESG continued to have more new job postings and closures. Advanced Materials had lower closures than new job postings.

Boeing, Robert Bosch, CDM Smith, JPMorgan, Accenture, and Walmart are among the top recruiters.

Technology, Foodservice, Travel & Tourism, Construction, and Banking and Payments posted and closed more jobs than other industries.

Companies Initiatives examples are Prudential Financial ‘The PGIM Alternatives Funds’ is a newly formed alternative fund complex, and Citigroup Inc’s newly formed ‘Strategic Risk’ team.

Few examples of new roles include ‘Director P&U Energy Transition Strategy’ by KPMG and Zurich Insurance’s ‘Future of Work Director’.

The report summarizes key visible trends during Q3 2022 while also providing contextual analysis with sequential comparison to the previous quarter as well as key trends.

Key findings discussed in the report:

• Key Stats by Region – Q3 2022: North American companies increased job postings within the region from 90.6% in the Q2 2022 to 91.8% in the Q3 2022. APAC companies increased job postings within the region from 69.3% in the Q2 2022 to 76.2% in the Q3 2022. In Q3 2022, North American companies’ job flows to EMEA increase while job flows to APAC fall.

• Trending Countries: The US witnessed a sequential decline of 2% for active jobs. Onshore hiring by the US headquartered companies continued to gain momentum. A slight dip in APAC hiring was noticed for the US headquartered companies, with India continuing to be a key hiring location.  Canada and France had high job closures compared to new job postings by 12% and 14% respectively. China and Germany posted more jobs than closures over the previous quarter ending June 22.

• Layoffs: Over 300 companies announced layoffs during the quarter ending September 22. With the technology industry responsible for the majority of these announcements followed by banking and payments and retail. For instance, HCL Technologies laid off 350 employees working on Microsoft project, Credit Suisse laid off 5,000 job cuts as part of restructuring plan, and Gap laid off around 500 corporate job cuts in US and Asia.

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