Global Hiring Activity - Trends & Signals Q1 2023

GlobalData’s Job Analytics Trends & Signals Q1 2023 report offers a detailed study of job trends, trending geographies, technology themes, top recruiters, trending industries, signals, and new roles. 

Q1 2023 Global Hiring Report shows a continuous decline in job postings, coupled with over 500 companies announcing layoffs globally. Some examples include Salesforce, Accenture, JP Morgan Chase & Co, and Citigroup. Active jobs declined 27.8% in Q1 2023, with new job postings declining by 19.1%. Job closures compared to new postings saw an increase of 36.3% during the quarter. The US witnessed a sequential decline of 28.6% in Q1 2023. Other major countries such as the UK and India also saw a decline in active jobs during the quarter. Sectors such as Retailing, Healthcare, and Technology continued to hire actively although active jobs declined by around 30% sequentially in Q1 2023. Key themes driving hiring trends were Cloud, Artificial Intelligence, and Big Data.

A detailed understanding of the various trends and signals in Q1 2023

Digitalization, Ecommerce, and Renewable Energy were among the top themes with higher job postings.

Raytheon, Accenture, Citigroup, Marriott International, and GSK were among the top recruiters.

Travel & Tourism, Foodservice, and Business and Consumer Services were among the key industries with higher job postings.

Company newly created initiatives examples such as Autodesk Inc – Design & Manufacturing Industry Cloud and The U.S. Pharmacopeial Convention (USP) – Materials Strategy including RACI charts.

Some of the new roles include ‘CMC Clinical Portfolio Operations (CPO)’ by Moderna and Exelixis Inc's ‘Strategic Sourcing & Procurement (SS&P)’.

The report summarizes key visible trends during Q1 2023 while also providing contextual analysis as well as key trends.

Key findings discussed in the report:

• Key Stats by Region – Q1 2023: North American HQ companies posted 91.4% of jobs in North America; 4% in Asia Pacific; 3.4% in Europe; 0.6% in South & Central America and 0.6% in Middle East & Africa. European HQ companies posted 61.7% of jobs in Europe; 18.2% in North America; 16.3% in Asia Pacific; 1.8% in South & Central America and 1.9% in Middle East & Africa.
• Trending Skills: There was ongoing demand for proficiency in Office Productivity Applications and Application Lifecycle Management.
• Layoffs: Over 500 companies announced layoffs during the quarter ending March 2023. For instance, Woolworths Group cuts 51 jobs as its export unit shuts, Walmart cuts hundreds of jobs at fulfillment centers in the US, and Accenture cut 19,000 jobs, lowering profit estimate amidst global uncertainty.

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