Canada’s banking and payments industry registered a 17.1% drop in IT hiring activity in November 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.
The industry’s overall hiring is decreased by 15.2% in November 2022 when compared with October 2022.
Out of the banking and payments industry’s total hiring activity, IT jobs claimed an 11.93% share in November 2022, recording a decrease of 0.9% over the last three-month average share.
Top five job classifications in Canada’s banking and payments industry’s IT recruitment activity in November 2022
Out of the total job titles, the top five roles commanded a 99.72% share in the overall IT recruitment activity of Canada’s banking and payments industry in November 2022.
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1) Software and Web Developers, Programmers, and Testers recorded a share of 55.28% in November 2022, registering a 32.77% decline over the previous month.
2) Computer and Information Analysts claimed a 16.53% share, a decrease of 32% over the previous month.
3) Miscellaneous Computer Occupations held a share of 13.33%, registering a 28.89% decline from October 2022.
4) Database and Network Administrators and Architects captured a share of 8.89%, down 40.19% over the previous month.
Top five banking and payments companies in Canada’s IT recruitment activity in November 2022
The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average decline of 43.11% share in the overall IT recruitment activity of Canada’s banking and payments industry during November 2022 over October 2022.
Royal Bank of Canada posted 132 IT jobs in November 2022 and registered a drop of 19.51% over the previous month, followed by Bank of Nova Scotia with 74 jobs and a 13.95% drop. TD Canada Trust with 54 IT jobs and Manulife Financial with 46 jobs, recorded an 80.29% decline and a 43.75% growth, respectively, while Citigroup recorded a decline of 26.23% with 45 job postings during November 2022.
Junior Level job postings dominate in November 2022
Junior Level jobs held a share of 59.31%, down by 34.51% from October 2022. Mid Level positions with a 29.17% share, registered a decline of 39.48% compared with the previous month.
In the third place was Entry Level job ads with 10.42% share, down 27.88% over October 2022, while Senior postings accounted for 1.11%, recording a month-on-month decline of 27.27%.