North America witnessed a 13.8% drop in IT hiring activity in the banking and payments industry in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.
October 2022 has seen a decrease of 11.01% in the overall hiring activity when compared with September 2022.
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IT jobs accounted for a 13.44% share in the industry’s total hiring activity in October 2022, registering a decrease of 0.46% over the last three-month average share.
Software and Web Developers, Programmers, and Testers Occupations leads by classification in October 2022
Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in North America with a share of 51.37% in October 2022, a 39.24% drop over the previous month. Database and Network Administrators and Architects came in next, claiming a share of 17.05% in October 2022, marking a 25.14% month-on-month decline. In the third place was Computer and Information Analysts with a share of 13.64% in October 2022, a 7.01% drop from September 2022.
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By GlobalDataMiscellaneous Computer Occupations registered a share of 10.7% in October 2022, a 20.46% decline over the previous month.
Top five banking and payments companies in North America’s IT recruitment activity in October 2022
The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 4.8% in the overall IT recruitment activity of North America’s banking and payments industry during October 2022 over previous month.
US Bank posted 1,828 IT jobs in October 2022 and registered a decline of 23.13% over the previous month, followed by Citigroup with 440 jobs and a 2.22% drop. Bank of New York Mellon with 420 IT jobs and Bank of America with 377 jobs, recorded a flat growth and a 13.21% rise, respectively, while Capital One Financial recorded an 18.01% decline with 346 job postings during October 2022.
Country-wise composition of IT hiring in North America’s banking and payments industry
The US commanded a leading presence in the region’s banking and payments industry IT hiring activity with an 88.92% share in October 2022, a 31.89% decrease over September 2022. Canada featured next with an 8.49% share, down 23.04% over the previous month. Mexico recorded a 2.56% share, a drop of 22.71% compared with September 2022.
Junior Level job postings dominate in October 2022
Junior Level jobs held a share of 56.7%, down by 32.32% from September 2022. Mid Level positions with a 33.07% share, registered a decline of 27.43% compared with the previous month.
In the third place was Entry Level job ads with 8.4% share, down 40.39% over September 2022, while Senior postings accounted for 1.83%, recording a month-on-month growth of 30.92%.
