The 2023 MyJobMag Job Search Report has tracked the labour-market demand, impact and statistics, identifying the potential scale of occupational disruption and growth alongside job transitions from declining to emerging roles.
We conducted an in-depth analysis of the job market, comparing data from 2022 to 2023 to identify shifts in top job roles and fields, along with their potential causes and impacts.
This report provides critical insights for business leaders, HR Managers and job seekers to enable them to plan for 2024.
The data analyzed for this report was from free and paid job listings on MyJobMag from January to October 2022 and 2023.
In 2022, we analyzed 52,951 job listings from 4,688 companies, and in 2023, the data set expanded to 62,729 job listings from 5,629 companies.
These jobs are categorized based on educational qualifications, with jobs requiring a first degree taking up over 70% of roles published.
The data in the diagram below illustrates the year-on-year growth trends for these job qualifications, comparing the years 2022 and 2023.
In 2023, 62,729 jobs were advertised on MyJobMag, including paid and free jobs, from January to October. The data showed that "Accountant" was the most sought-after job role among employers, totaling 735 openings. This strong demand for Accountants reflects their vital role in organizations, including small businesses. Also, five job roles in this top 10 list are in the Sales, Marketing and Business Development space.
The bar chart below illustrates the other top 10 job roles for the year.
Sales/marketing, finance, engineering, and ICT tops the chart for the fields with the most hiring in 2023, with sales/marketing having over 15%.
The rising need for Sales professionals may stem from organizations seeking to boost their revenue in response to the country's current economic conditions.
Additionally, the growth of new SMEs requires sales professionals to help them establish and expand their businesses.
Candidates should also consider a career in Sales and Business Development.
Looking at the data presented, some fields have experienced an increased demand from employers. Sales/Marketing/Business Development, Project Management, Customer Care and Graduate Jobs saw an increased demand. Other fields, such as Human Resources, Driving, Media, and Administration, have experienced a decline from 2022 to 2023.
Despite the demand for more tech professionals, the decrease in the ICT field might indicate a change in how tech roles are filled, possibly through internal recruitment, referrals, social media platforms, and reduced reliance on job boards. It could also be reflective of the decline in the funding rounds in 2023.
The Consulting sector, which comprises Recruiting/HR firms, Financial Consulting firms, and other Consulting professionals, led in hiring through the job board with 15,194 job positions, followed by ICT/telecommunication, NGOs and Banking /Finance industries.
The industry comparison for 2022 and 2023 reveals both growth and a decline influenced by a range of factors including; political, economic, societal, environmental, and technological factors.
Notably, despite the hype surrounding web3, the blockchain sector experienced a decrease, and so also did ICT/Telecommunication, logistics/transportation, and manufacturing/production which could be a result of the high FX rate in the country.
However, industries like education, food service, and pharmaceuticals experienced positive growth. Also, the travel and tourism industry, although, impacted by the enduring effects of the COVID-19 pandemic, has seen a gradual recovery over the year 2022.
Many other industries are still recovering from these challenges, but we are hoping for substantial growth in the future.
Lagos had the highest job openings of 57.23% due to its industrial nature, followed by Abuja, Rivers, Oyo and Ogun. Other states had less than 2% of job openings each.
The industrialization of other states will help boost these numbers and create job opportunities for the people.
28.03% of NGO jobs were listed in Abuja, making it the top state, while Borno, Lagos, Adamawa, and Sokoto had more than 2% of jobs posted through job boards.
Traditional job roles in tech remain popular in Nigeria. Some in-demand roles to look out for in case you want to transition or learn a tech skill are Digital Marketing, Project Management, Social Media Management, Graphics Design and Product Management. These roles rank highest in our database for 2023. Some notable fast-rising roles in tech are Business Analyst and Data Analyst.
Like any other sector, the finance industry is no exception. If you are looking to transition to a new career path in finance and still pondering where to begin, these roles should be part of your focus: Banking, Finance, Accounting, Auditing, and Insurance. These roles are presently at the top of the list in the finance sector.
Sales drive every business, and in 2023, the most in-demand positions in the field of sales include Sales Executives, Sales Representatives, Sales Managers, Medical Sales Representatives, and Sales Officers. These roles had the highest number of job listings in the sales sector for 2023.
In 2022, remote job opportunities experienced a year-on-year growth of 74.5%, with 764 remote jobs posted, In 2023, this growth rate reduced to 40.2%, with 1,071 remote jobs posted.
While more companies are adopting remote work, the slowdown can be linked to unstable electricity, slow internet connections, company culture, work-life balance and performance challenges restricting the growth in the remote work sector.
Job openings posted on job boards receive an average of 122 applications. However, positions in administration, customer service, and front desk roles stand out, attracting a substantial 261 applicants within one week of being listed. This could be a result of the qualifications, experience, and skill sets sought after for these positions.
The data presented here serves as a valuable resource for job seekers, employers, policymakers, and educational institutions. It can guide informed decisions and strategies related to career development and workforce planning.
As the job market evolves, staying knowledgeable and adaptable is important to the success of all stakeholders.