Companies across sectors, including technology, retail, and banking and payments, continued to announce layoffs, and a sizable decline in active jobs (number of jobs available for application) is also apparent in August 2022, reveals GlobalData, a data and analytics company.
An analysis of GlobalData’s Jobs Analytics database has identified a seven index-points decrease in active jobs in August 2022 due to a high relative closure rate of 12 percent compared to the previous month.
Based on GlobalData’s analysis of around 27,000 companies, active jobs declined by 5 percent month-on-month in August 2022, whereas job closures—where a posted job is removed from the career page of the employer—decreased by 3 percent, along with a dip of 7 percent in new job postings.
Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “Companies are still facing inflationary pressures caused by the economic slowdown. Cutting jobs and reducing hiring are some of the most prudent ways for businesses to be cost efficient. The same is evident as various companies, including Alibaba, Microsoft, Snap, Tencent, and Apple, announced layoffs, as well as removing, or closing their jobs and reducing new job postings.”
Retail, pharma, oil and gas, aerospace, defense and security, banking and payments, and technology had witnessed a month-on-month dip in active jobs by 2 percent, 2 percent, 3 percent, 6 percent, 8 percent, and 9 percent, respectively, in August 2022. However, job postings rose in pharma along with oil and gas by 10 percent and 2 percent, respectively, during the month.
Key recruiters in the oil and gas sector include National Fuel Gas Co, New Fortress Energy Inc, OMV AG, and Atmos Energy Corp. Parexel International, Cipla, Aleris, and Celerion were some of the key recruiters in pharma.
Various new roles and teams are being sought by companies, including one for “VP, stakeholder management, issues, and advocacy integration” at BP Plc. American Express’ “Director Assistant” role will be responsible for developing the company’s newly created technology business management (TBM) team. This new team will drive organizational and operational efficacy and efficiency across all the company’s technology teams.
