The North American banking and payments industry experienced a 29% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by US Bank with 6,383 job postings, according to GlobalData’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.
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Notably, Office and Administrative Support Occupations jobs accounted for a 19% share of the North American banking and payments industry’s total new job postings in Q3 2023, drop 2% over the prior quarter.
Office and Administrative Support Occupations drive banking and payments industry hiring activity
Office and Administrative Support Occupations, with a share of 19% new job postings, was the occupation with the greatest hiring activity in the North American banking and payments industry in Q3 2023 , ahead of Business and Financial Operations Occupations with a 16% share of new job postings.
The other prominent roles included Management Occupations with a 14% share in Q3 2023, Sales and Related Occupations with an 11% share and Computer and Mathematical Occupations with a 9% share of new job postings.
Top five companies accounted for 21% of hiring activity
US Bank posted 6,383 jobs in Q3 2023 and registered a decline of 68% over the previous quarter, followed by Wells Fargo & Co with 4,856 jobs and a 49% drop. JPMorgan Chase & Co, with 4,275 jobs, and Citigroup, with 3,818 jobs, recorded a 15% drop and a 76% drop, respectively, while TD Canada Trust recorded a 13% increase with a 3,451 new job postings during Q3 2023.
Regional analysis of hiring in the North American banking and payments industry, Q3 2023
The US held the leading share of the North American banking and payments hiring activity with an 87.26% share, a 31% decrease over Q2 2023. Canada was next with 9.56%, four-percentage-point up over the previous quarter.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.
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