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August 11, 2022

North America’s insurance industry IT hiring activity drops 6.8% in July 2022

By Carmen

North America witnessed a 6.8% drop in IT hiring activity in the insurance industry in July 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.

July 2022 has seen a decrease of 4.44% in the overall hiring activity when compared with June 2022.

IT jobs accounted for a 10.14% share in the industry’s total hiring activity in July 2022, registering a decrease of 0.1% over the last three-month average share.

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

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in North America with a share of 49.17% in July 2022, a 17.55% drop over the previous month. Database and Network Administrators and Architects came in next, claiming a share of 15.85% in July 2022, marking a 13.67% month-on-month decline. In the third place was Miscellaneous Computer Occupations with a share of 15.09% in July 2022, a 5.06% rise from June 2022.

Computer and Information Analysts registered a share of 13.18% in July 2022, a 32.6% decline over the previous month.

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

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 9.72% in the overall IT recruitment activity of North America’s insurance industry during July 2022 over previous month.

UnitedHealth Group posted 620 IT jobs in July 2022 and registered a decline of 26.8% over the previous month, followed by Centene with 277 jobs and a 95.07% growth. USAA with 138 IT jobs and MetLife with 104 jobs, recorded a 21.59% drop and a 13.33% drop, respectively, while Cigna recorded a 15.66% increase with 96 job postings during July 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 92.6% share in July 2022, a 17.33% decrease over June 2022. Canada featured next with a 7.07% share, down 10.46% over the previous month. Mexico recorded a 0.23% share, a flat growth compared with June 2022.

Junior Level job postings dominate in July 2022

Junior Level jobs held a share of 61.23%, down by 16.37% from June 2022. Mid Level positions with a 25.03% share, registered a decline of 24.5% compared with the previous month.

In the third place was Entry Level job ads with 13.28% share, down 0.5% over June 2022, while Senior postings accounted for 0.46%, recording a month-on-month growth of 7.69%.

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