Major multinational corporations increase recruiting towards year end; survey states
As the year draws to a close, major international corporations have increased their hiring for professional positions, particularly in the retail, technology, and healthcare sectors.
As the year draws to a close, major international corporations have increased their hiring for professional positions, particularly in the retail, technology, and healthcare sectors. However, a poll released on Tuesday revealed that the demand for financial services recruits is slower.According to an index by recruiters Robert Walters, job openings for professional positions worldwide increased by almost 9% month over month in October after declining by 5% in September."The latest figures ... (are) a positive hint toward more traditional recruitment cycles returning, whereby October and the final quarter tends to be busy as companies ramp up seasonal hires or look to spend remaining hiring budgets before the close of the year," Robert Walters' CEO Toby Fowlston said.The United States and Britain had monthly increases in vacancies of 11% and 4%, respectively, but Canada and Mexico saw larger increases of 18% and 22%, which Fowlston attributed to companies' desire to locate near their US customers."This could be driven further in the next quarter by recent geopolitical shifts and trade renegotiations or agreements," he stated.In addition to proposing a 10% tariff on all imports, US President-elect Donald Trump has stated that he will slap 60% tariffs on US imports of Chinese goods.Professional job openings increased by 29% in the retail and consumer goods and services industry, 15% in basic materials, 14% in technology, and 13% in healthcare, but just 5% in real estate and 1% in financial services."If we take the two biggest hubs in the world, London and New York - we can see why October job growth was muted due to the US election and UK budget," Fowlston said.The United States has seen a 12% increase in financial services job openings compared to a year ago, while Switzerland, Britain, and France have seen a 7%, 6%, and 5% decrease in vacancies, respectively.The majority of the data comes from publicly posted positions in privately held businesses with yearly sales of at least $50 billion and listed corporations with a market capitalization of at least $100 billion.
