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November 8, 2022

North America’s insurance industry IT hiring activity drops 14.7% in October 2022

By Carmen

North America witnessed a 14.7% drop in IT hiring activity in the insurance industry in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.

October 2022 has seen a decrease of 10.12% in the overall hiring activity when compared with September 2022.

IT jobs accounted for a 9.46% share in the industry’s total hiring activity in October 2022, registering a decrease of 0.63% over the last three-month average share.

Software and Web Developers, Programmers, and Testers Occupations leads by classification in October 2022

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in North America with a share of 48.26% in October 2022, a 15.37% drop over the previous month. Database and Network Administrators and Architects came in next, claiming a share of 16.42% in October 2022, marking a 23.06% month-on-month decline. In the third place was Computer and Information Analysts with a share of 14.34% in October 2022, a 20.2% drop from September 2022.

Miscellaneous Computer Occupations registered a share of 14.3% in October 2022, a 36.32% decline over the previous month.

Top five insurance companies in North America’s IT recruitment activity in October 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 19.99% in the overall IT recruitment activity of North America’s insurance industry during October 2022 over previous month.

UnitedHealth Group posted 679 IT jobs in October 2022 and registered an increase of 3.66% over the previous month, followed by Elevance Health with 157 jobs and a 3.97% growth. Dai-ichi Life Holdings with 114 IT jobs and Centene with 82 jobs, recorded a 44.66% drop and a 71.02% drop, respectively, while MetLife recorded a 15.63% decline with 81 job postings during October 2022.

Country-wise composition of IT hiring in North America’s insurance industry

The US commanded a leading presence in the region’s insurance industry IT hiring activity with a 92.85% share in October 2022, a 20.54% decrease over September 2022. Canada featured next with a 6.76% share, down 24.8% over the previous month. Mexico recorded a 0.32% share, a drop of 25% compared with September 2022.

Junior Level job postings dominate in October 2022

Junior Level jobs held a share of 63.13%, down by 19.92% from September 2022. Mid Level positions with a 23.32% share, registered a decline of 21.43% compared with the previous month.

In the third place was Entry Level job ads with 12.97% share, down 25.1% over September 2022, while Senior postings accounted for 0.57%, recording a month-on-month growth of 77.78%.

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