AI-Related Job Postings Grew 3.5 Times Faster than the Overall Job Market
3.5
PwC's research indicates that jobs requiring AI skills offer a 25% wage premium on average in the US, with premiums of 14% in the UK and 11% in Canada. Between 2012 and 2023, AI-related job postings grew 3.5 times faster than the overall job market, with labor productivity in AI-exposed industries growing 4.8 times faster than others, potentially boosting real wage growth and economic development.
2.4%
In the first quarter of 2024, 2.4% of all job seekers relocated for new positions, with 3.7% of job seekers earning over $200,000 moving for new jobs. This data, released by Challenger, Gray & Christmas, Inc., highlights a slight increase from the previous quarter's relocation rate of 1.5%. However, it remains historically low compared to previous years, reflecting ongoing shifts in job market dynamics amidst factors like remote work and economic conditions.
75%
Nearly all Fortune 500 companies and 75% of all U.S. companies were utilizing AI in their hiring practices, as reported by Harvard Business School. Additionally, a recent Gartner survey found that 38% of people leaders have explored or implemented AI solutions to enhance process efficiency within their organizations. Moreover, more than 60% of HR leaders, as per a Gartner survey, are engaging in discussions regarding the adoption of generative AI across enterprises.
3.5 M
Employee quit rates dropped to 3.3 million in March from a historic low of 3.5 million in February, indicating a trend of "nesting" or reduced likelihood of leaving jobs, according to the latest Job Openings and Labor Turnover Summary from the Bureau of Labor Statistics. Lauren Geer, SVP and CHRO at IAC, notes that while turnover may be lower, the recruiting market remains challenging, with employees hesitant to switch jobs amidst mass layoffs and uncertainties, emphasizing the importance of proactive HR strategies.
23%
In the tech industry, gender disparities persist, with only about 23% of developers and 14% of tech leaders being female as of Q3 last year. Moreover, women represent just 18% of new computer science degree holders in 2024. To combat this, companies like Booz Allen Hamilton are investing heavily in AI services, offering programs like AI Ready to upskill their workforce and promote equity in the AI-enabled economy.