The GlobalData US Active Jobs Index recorded a notable 12% month-on-month (MoM) decline in September 2023, adding to the trends noticeable in the US Job Openings and Labor Turnover Survey (JOLTS) from July 2023. Despite this decline, there are dynamics at play in the job market, with certain sectors showing resilience and even growth, observes GlobalData, a leading data and analytics company.
Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “Post the gradual recovery of the US markets from the impact of COVID-19 in 2021 and 2022, there is a significant fluctuation in hiring during 2023. While there is a deceleration in the recent months, there are exceptions such as the transport and logistics sector with a surge in job postings.”
In the transport and logistics sector, companies were hiring for warehouse, freight handling, drivers, and related roles. Companies such as FedEx Corp are looking at improving sourcing, standardization, and significant cost reduction by managing supplier strategy and performance. CJ Logistics Corp is using technology and automation to support warehouse and transportation operations. The company is looking at automation, digitalization, and robotics solutions for efficient operations.
Sabre is looking at creating a new marketplace for personalized travel with a product vision that supports company’s growth aspirations in the lodging space. InnSuites Hospitality Trust is strengthening its accounting team and internal control for financial reporting, necessitating additional hiring of qualified personnel with a strong background in US accounting principles, reveals GlobalData’s Company Filings Analytics database.
Sriprada concludes: “Companies are also looking at offshoring. Ubiquiti Inc is hiring more administrative personnel and expanding operations outside the US. Cisco Systems Inc plans to hire from other geographic areas.”
