Various nations see job roles decline instead of usual 'September surge'
Professional job roles across the world declined by five per cent in September to deviate from the usual surge in hiring activity at this time of the year, according to newly released data from Robert Walters.
The Global Jobs Index found that the biggest declines in job roles in September were in:
- Singapore (-21.81%)
- United States (-12.31%)
- Australia (-11.26%)
- Germany (-6.85%)
- United Kingdom (-5.62%)
Toby Fowlston, CEO of Robert Walters, noted that this decline was not usual for the hiring activity during this time of the year.
"September's decline in professional job roles globally is a departure from the usual surge of hiring activity we expect at this time of year," Fowlston said in a statement.
Source: Robert Walters
Why are professional jobs declining?
He added that the findings are a "direct reflection" of the geopolitical tensions, economic outlooks, and industry-specific issues on the global jobs market.
"In the USA, the upcoming election and potential policy shifts have resulted in employers holding off on hiring," Fowlston said. "The UK is experiencing increased uncertainty as businesses hold back on hiring in anticipation of the government's budget announcement."
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German firms are "being more cautious about hiring" amid economic weakness, geopolitical tensions, and job cuts in the automotive sector, Fowlston added.
In Australia, the dip in hiring is due to economic outlook, inflation, and interest rates.
"Meanwhile, Singapore's job flow is slowly picking up, and the decline in September may not be a fair indicator due to rushed offers and vacancies closed in August," he noted.
Europe sees 'September surge'
Robert Walters' Global Jobs Index tracks job flow for professionals across the globe by looking at external job adverts posted online in real time.
It found that unlike in other parts of the world, Europe experienced the "September surge" in job vacancies and posted an increase in professional job roles.
"The combination of a post-Summer and post-Olympics rebound for France resulted in a positive uplift in professional job vacancies," Fowlston said.
Among the European countries reporting positive trends in professional job roles are:
- France (+74.4%)
- Spain (+18.66%)
- Switzerland (+7.58%)
- Belgium (+2.56%)
"Whilst Spain experienced the traditional September uplift, this was generally more muted than previous years. An overall decline in consumption had a notable impact on retail, industry, and manufacturing – however, tourism and leisure continued to lead the way in job creation," Fowlston said.
"Belgium and Switzerland can attribute the rise in jobs to the post-summer 'pick-up' of businesses, with the relaunch of certain projects driving job flow and internal moves."