Sciolytix Sales Hiring Index Down Sharply in January Reflecting Seasonal Influences

NEW YORK - Jan. 11, 2023 - PRLog -- New York, NY., Jan 4, 2023 - The Sciolytix Sales Hiring Index (SSHI) fell from 95.5 in December 2022 to 73.2 in January 2023. The SSHI measures relative demand for full-time sales talent in the US over the last 30 days through new sales job postings on Zip Recruiter, Indeed, LinkedIn and Glassdoor.

The decrease of 22.3 points is the largest drop in the SSHI since it began in July 2022. It suggests demand for salespeople softened over the past 30 days. The broad-based SSHI fell 27.7 points to 64.1, while the B2B-SSHI fell 10.0 points to 96.9.

Source   Aug 2022   Sep 2022   Oct 2022   Nov 2022   Dec 2023   Jan 2023

ZipRecruiter - US Sales   548,204   546,371   553,122   585,417   530,591   343,778

Indeed - US Sales   146,230   124,948   119,677   118,840   106,963   101,336

Total   694,434   671,319   672,799   704,257   637,554   445,114

SSHI - Broad   100.0   96.7   96.9   101.4   91.8   64.1

Month-over-Month Change     -3.3   0.2   4.5   -9.6   -27.7

LinkedIn - US Sales   69,363   76,111   64,659   46,113   60,877   55,476

GlassDoor - US Sales   46,141   45,729   67,088   46,517   62,566   56,435

Total   115,504   121,840   131,747   92,630   123,443   111,911

SSHI - B2B   100   105.5   114.1   80.2   106.9   96.9

Month-over-Month Change     5.5   8.6   -33.9   26.7   -10.0

Overall     97.9   101.4   99.0   95.5   73.2

Month-over-Month Change       3.5   -2.4   -3.6   -22.3

The data highlights the seasonal nature of sales hiring as organizations staff-up in the fall and then throttle sales hiring back during the holiday season and early New Year. This is especially pronounced in the retail industry.

6 Month Hiring Trends

Over the past six months, the broad-based sales hiring index increased 1.4 points from August through November and then fell in December before sharply dropping in January. B2B sales hiring index increased by 6.9 points from August to December, then fell 10.0 points in January.

In a recent article, Mega-Companies Messed Up America's Job Market. They're Doing it Again, the Wall Street Journal reports that headlines about big layoffs don't mean the job market is melting. Still, they point out excessive hiring by America's big companies during the pandemic.

According to WSJ, part of what has made America's job market so tight is that big, publicly traded companies hired like crazy after the pandemic struck. Now that many are slamming into reverse, it seems like a wave of unemployment is underway. For the people affected, job losses are horrible. But when it comes to the job market, rather than thinking of these layoffs as a sign that things are falling apart, they might indicate that it could come into better balance.

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