The US banking and payments industry experienced a 31% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by US Bank with 6,349 job postings according to GlobalDataâ€™s analysis of banking and payments company job postings. GlobalData’s Banking & Payments: Hiring Trends & Signals Q3 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the industry, facilitating anticipation of future workforce needs. Buy the report here.
Notably, Office and Administrative Support Occupations jobs accounted for a 19% share of the US banking and payments industry new job postings in Q3 2023, down by 5% over the prior quarter.
Office and Administrative Support Occupations drive banking and payments industry hiring activity
Of the industry's total hiring activity, the highest number of new job postings were for Office and Administrative Support Occupations, which accounted for 19% of the total new job postings in Q3 2023 and were down by 45% year-on-year. Second highest were Business and Financial Operations Occupations, which accounted for 14% and drop by 48% year-on-year, and third highest were Management Occupations, which were 39% of the new job postings and 62% lower year-on-year.
Top five companies in banking and payments industry accounted for 23% of hiring activity
The highest number of jobs were posted by US Bank with 6,349, followed by Wells Fargo & Co with 4,832, while the highest increase was at JPMorgan Chase & Co at 15%.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.