The Claro Analytics Jobs Report: February 2023
Despite 7.2 million open roles in the US in February, the news of the Silicon Valley Bank collapse come March is in the forefront of workers' minds, leading to fear of further instability. According to data from Claro Analytics, it's far too soon to be preparing for a 2008-level financial crisis. This month's report offers insight into the industries experiencing significant change.
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Artificial intelligence (AI) demand and salary in the US
Companies in California, New York, and other tech-forward US states are seeking professionals for AI roles and are, on average, paying salaries over $150,000. Recent layoffs in fields choosing to enlist AI to perform repetitive job functions suggest businesses are reorganizing in a major way.
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US companies hiring for artificial intelligence (AI)
Technology, healthcare and AI companies are leading the pack in hiring artificial intelligence specialists, according to online job postings. There are two major banks in the top 10 (Capital One and JPMorgan Chase & Co), potentially adapting for the future.
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Artificial intelligence diversity metrics
From a diversity and ethnicity perspective, Asian males are dominating the AI space. These figures may shift in the coming months as individuals who were laid off from fields like recruitment, media and finance re-skill and re-enter the workforce.
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Remote vs in-person salary discrepancy
Recent online job postings indicate that an increasing number of US companies are moving away from remote work and transitioning back to in-person or hybrid work models. This shift towards in-person work has also prompted talent acquisition leaders to leverage labor market data and location analytics when budgeting for 2023, to ensure that they attract the best talent while remaining competitive in terms of compensation and benefits.
Notable US hiring shifts
In the last year, online job postings in the US have demonstrated an increased demand for food service and retail workers. The heightened demand for workers in these industries suggests the consumer economy has more than recovered from the many closures that occurred in these sectors during the pandemic.
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Fortune 100 job-seeking activity
Thousands of Fortune 100 company employees were exhibiting job- seeking behavior in the last six months. Despite widespread layoffs filling US newsfeeds, nearly 4% of Fortune 100 professionals are open to new opportunities, data from our Job Seeking Sonar® tool has suggested. The Chrome extension offers insight into US job- seeking activity by analyzing data from professional profiles.
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More job postings contain salary data in California and Washington
The visible increase in job postings with salary data in California and Washington demonstrates the effectiveness of pay transparency laws in the US. In the next year, we will likely see a sharp fall in job postings without salary data as companies try to avoid penalties from their respective state governments.
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