16 Aug 2022 Hiring activity declined during Q2 2022 amid layoff concerns, finds GlobalData – GlobalData

  • Job postings declined in Q2 2022 after an increase in the previous quarter. Active Jobs declined by 1% in Q2 2022, while closures rose 9% compared to the previous quarter.
  • Technology themes such as ‘Cloud’, ‘Big Data’, and ‘Digital Media’ posted and closed more jobs in Q2 2022 over Q1 2022.
  • Retail and technology sectors posted a high number of jobs, while the automotive sector had the highest sequential growth.

After a rise in the latter half of Q1 2022, job postings globally declined by 1% in Q2 2022, while closures rose 9% compared to the previous quarter, according to GlobalData’s Job Analytics Database.

According to the leading data and analytics company’s latest report, ‘Global Hiring Activity – Trends & Signals Q2 2022’, the two sectors that posted a high number of jobs were retail and technology, while the automotive sector had the highest sequential growth.

Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “There was a slowdown in global hiring activity in Q2 2022 as companies considered hiring freezes and layoffs. For instance, Novartis announced that it was cutting up to 8,000 jobs globally, while Airbnb laid off 60 employees when it announced its exit from China. PepsiCo also laid off 78 of its employees following the closure of its Illinois R&D facility.”

The technology, construction, and healthcare sectors had high job postings and higher job closures. Wipro and Ericsson were among the top recruiters in terms of change in job postings and closures in Q2 2022 compared to the previous quarter. Construction firms Cushman & Wakefield and Actividades de Construccion were among the top recruiters during the same period.

Sriprada adds: “In terms of themes, ‘Cloud’, ‘Big Data’, and ‘Digital Media’ had a high number of postings and closures in Q2 2022 over Q1 2022. Companies continued to focus on sustainability/ESG initiatives; for example, Visa’s ‘Sustainability Client Solutions Senior Manager’ role will look at a strategy to support the company’s clients in the transition to a corporate social innovation model, as well as offering sustainable living options for consumers and merchants.”

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