The first quarter of 2024 saw an increase in global job postings and a lesser number of companies laying people off.
Major players like Cisco Systems, The Goldman Sachs Group, Microsoft, Citigroup, and X were among the companies that announced job cuts.
Despite this, technology and communications, retailing, and business and consumer services saw high job postings, posting year-on-year (YoY) growth during the quarter.
Key technology themes driving hiring trends included artificial intelligence (AI), e-commerce, cybersecurity, and cloud during the quarter, reveals GlobalData’s Job Analytics Database.
GlobalData’s latest report, “Global Hiring Activity – Trends & Signals Q1 2024”, reveals that the global hiring activity (posted jobs) increased by 31,7% in Q1 2024 compared to the previous quarter and decreased by 4,8% YoY. Cargill, Accenture, and Marriott International were among the top recruiters during the quarter.
Sherla Sriprada, business fundamentals analyst at GlobalData, comments: “AI job postings saw a rise in Q1 2024 as companies sought experts in automation, ML/AI modeling, software solutions, conversational and generative AI. Technology and communications, and the retail industry witnessed increased job postings, registering growth in Q1 2024 compared to Q1 2023.”
Countries trending with high job postings and YoY growth in Q1 2024 include India, Australia and the Czech Republic.
Meanwhile, colocation services and vertical-specific and packaged applications were key technology skills trending with high YoY growth in job postings. Demand for jobs with experience in AI platforms continued during Q1 2024