GlobalData’s Job Analytics Database said that despite ongoing corporate optimisation efforts and over 500 companies announcing layoffs, the job market remained resilient.

The retail sector, propelled by industry giants such as Amazon and Walgreens, saw a significant rise in job postings. Meanwhile, the technology and communications sector, led by major recruiters including Accenture, Reliance Jio, and Microsoft, also experienced an uptick in hiring.

Job postings were mainly driven by demand for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects.

GlobalData Business Fundamentals Analyst Sherla Sriprada said: “The AI theme has experienced a notable 61 per cent increase in job postings, driven by the need for AI/ML Engineers, Cloud Architects, and Generative AI Solution Architects in 2024. There is a growing demand for professionals skilled in ChatGPT and Copilot, reflecting a heightened focus on GenAI, AI Agents, and Agentic AI roles.”

India emerged as the top country regarding job posting growth, with US companies increasing hiring exposure in the country while reducing it in China. More broadly, China, Brazil, and Australia also increased job postings, while North American firms scaled back onshoring in favour of hiring in European and Asia-Pacific (APAC) nations.

Infrastructure-as-a-Service (IaaS) gained traction, fuelling demand for Cloud Infrastructure Leads, Infrastructure Security Engineers, and Data Center infrastructure Operations Managers. Office productivity and enterprise resource planning applications also saw increased hiring activity.

Sriprada said: “2024 marks a pivotal year for the global job market, with tech themes driving much of the hiring activity. It is important to note that the shift towards onshoring in regions like India and reduced hiring in China underscores the broader geopolitical and economic trends influencing talent acquisition strategies. This dynamic landscape presents opportunities and challenges for organisations as they navigate the complexities of a rapidly evolving global workforce.”