Canada’s insurance industry registered a 17.4% drop in IT hiring activity in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.
The industry’s overall hiring is decreased by 12.67% in October 2022 when compared with September 2022.
Out of the insurance industry’s total hiring activity, IT jobs claimed an 11.23% share in October 2022, recording a decrease of 0.42% over the last three-month average share.
Top five job classifications in Canada’s insurance industry’s IT recruitment activity in October 2022
Out of the total job titles, the top five roles commanded a 100% share in the overall IT recruitment activity of Canada’s insurance industry in October 2022.
1) Software and Web Developers, Programmers, and Testers recorded a share of 46.03% in October 2022, registering a 34.59% decline over the previous month.
2) Computer and Information Analysts claimed a 19.05% share, a decrease of 14.29% over the previous month.
3) Miscellaneous Computer Occupations held a share of 15.87%, registering a 16.67% decline from September 2022.
4) Computer Support Specialists captured a share of 10.05%, up 58.33% over the previous month.
Top five insurance companies in Canada’s IT recruitment activity in October 2022
The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average decline of 27.12% share in the overall IT recruitment activity of Canada’s insurance industry during October 2022 over September 2022.
Intact Financial posted 32 IT jobs in October 2022 and registered a drop of 64.44% over the previous month, followed by Manulife Financial with 32 jobs and a 3.23% growth. Sun Life Financial with 30 IT jobs and Great-West Lifeco with 18 jobs, recorded a 9.09% decline and an 80% growth, respectively, while Canada Life Assurance recorded an increase of 30.77% with 17 job postings during October 2022.
Junior Level job postings dominate in October 2022
Junior Level jobs held a share of 73.02%, down by 18.34% from September 2022. Mid Level positions with a 14.81% share, registered a decline of 41.67% compared with the previous month.
In the third place was Entry Level job ads with 11.64% share, down 37.14% over September 2022, while Senior postings accounted for 0.53%, recording a month-on-month flat growth.