- Active job index experiences a 1.4% YoY growth
- India top country in terms of growth
- Retail sector trends with high growth and postings
The global job market dynamics in 2024 revealed a positive year-over-year (YoY) trend, despite companies continuing optimization efforts, with over 500 companies announcing layoffs. The retail sector experienced a rise in postings, driven by companies such as Amazon and Walgreens. The technology and communications sector, with major recruiters including Accenture, Reliance Jio, and Microsoft, also saw a rise in postings. Key technology themes driving hiring trends include artificial intelligence (AI), cloud, big data, cybersecurity, and batteries, reveals the Job Analytics Database of GlobalData, a leading data and analytics company.
GlobalData’s latest report, Global Hiring Activity Trends & Signals – 2024, reveals that the new job postings for 2024 were driven by roles for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects.
Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “The AI theme has experienced a notable 61% increase in job postings, driven by the need for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects in 2024. There is a growing demand for professionals skilled in ChatGPT and Copilot, reflecting a heightened focus on GenAI, AI Agents, and Agentic AI roles.”
Countries such as China, Brazil, India, and Australia had a growth in job postings compared to the previous year. The US companies increased their hiring exposure to India while scaling back in China. The North American job onshoring declined in favor of postings in European and APAC nations.
Meanwhile, Infrastructure-as-a-Service (IaaS) gained traction, driven by Cloud Infra Leads, Infra Security Engineers, and Data Center InfraOps Managers. Additionally, office productivity applications and enterprise resource planning applications were trending in 2024.
Sriprada concludes: “2024 marks a pivotal year for the global job market, with tech themes driving much of the hiring activity. On the other hand, it is important to note that the shift towards onshoring in regions like India, coupled with reduced hiring in China, underscores the broader geopolitical and economic trends influencing talent acquisition strategies. This dynamic landscape presents both opportunities and challenges for organizations as they navigate the complexities of a rapidly evolving global workforce.”
