Major Global Companies Boost Hiring

By David Milliken

LONDON (Reuters) – Major global companies have increased hiring for professional roles as they enter the final quarter of the year. This surge is especially notable in retail, technology, and healthcare, while demand for financial services recruits remains sluggish, according to a survey released on Tuesday.

Job vacancies for professional roles worldwide rose nearly 9% month-on-month in October, rebounding from a 5% fall in September, as reported by recruiters Robert Walters.

> "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," stated Robert Walters' CEO Toby Fowlston.

Vacancies surged by 11% in the United States and 4% in Britain. However, Canada and Mexico observed larger increases of 18% and 22%, respectively, attributed to businesses wanting to be closer to their U.S. clients.

> "This could be driven further in the next quarter by recent geopolitical shifts and trade renegotiations or agreements," Fowlston noted.

U.S. President-elect Donald Trump has proposed imposing 60% tariffs on U.S. imports of Chinese goods and discussed a 10% tariff on all imports.

Vacancies for professional roles increased by 29% in the retail and consumer goods and services sectors, 15% in basic materials, 14% in technology, and 13% in healthcare, while only rising 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 U.S. election and UK budget," Fowlston explained.

Year-on-year comparisons show a 10% increase in financial services vacancies, largely driven by a 12% rise in the United States, though Switzerland, Britain, and France have experienced decreased vacancy rates of 7%, 6%, and 5%, respectively.

The data primarily reflects publicly advertised positions from listed companies with a market capitalization of at least $100 billion and privately owned companies with annual sales of at least $50 billion.