- Job postings increased by 7.3% YoY
- Cybersecurity and big data were the other noteworthy themes
- RTX, Cargill, LVMH, and JPMorgan Chase & Co top recruiters
The global job market dynamics in the second quarter (Q2) of 2024 revealed a positive year-on-year (YoY) trend, despite layoffs by major companies like Google LLC, Nestle SA, Ford Motor Co, NIKE Inc, Amazon.com Inc, and Walmart Inc. Meanwhile, travel and tourism, foodservice, and retailing saw significant YoY growth in job postings during the quarter. Key technology themes driving hiring trends included cloud, artificial intelligence (AI), big data, cybersecurity, and ecommerce, reveals the Job Analytics Database of GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Global Hiring Activity – Trends & Signals Q2 2024,” reveals that the global hiring activity (posted jobs) was positive during Q2 2024 with job postings increasing 7.3% YoY. RTX, Cargill Inc, LVMH, JPMorgan Chase & Co, and Marriott International Inc were among the top recruiters during the quarter.
Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “Companies were looking for people with experience in ML hardware platforms, AI solutions, smart robotics trial, and AI capabilities. GenAI has seen a significant rise in demand for talent since April 2023. The US and India were hotspots in Q2 2024. GenAI is finding applications for next generation products and services across industries.”
Countries trending with high job postings and YoY growth in Q2 2024 include Brazil, India, and China. Banking & payments, and business and consumer services witnessed increased job postings, registering growth in Q2 2024 compared to Q2 2023.
Meanwhile, colocation services and vertical-specific and packaged applications were the key technology skills trending with high YoY growth in job postings. The knowledge of AI platforms continued to be among the key skills sought by companies during Q2 2024.
Sriprada concludes: “Q2 2024 demonstrates the global job market’s resilience, with job postings increasing despite notable layoffs. The growing demand for skills in AI, cloud computing, and cybersecurity signals a strong move towards digital transformation. As travel and tourism, and retail sectors continue to grow, the emphasis on tech-savvy talent is set to influence the future of global employment.”
