Recruitment activity in the global language market saw an increase in July 2022, following a slight decline in June. The Slator Language Industry Employment Index (LIJI) resumed a moderate upward trend in 2022, despite the June result and a slight seasonal decline in January 2022.
The LIJI was developed to track employment and hiring trends in the global language industry. The July 2018 benchmark is the starting point from which the expansion or contraction of employment and hiring activity in the industry is measured.
The Slator LIJI climbed around 1.5 points to 180.11 in July 2022, from 178.55 the previous month and around the same level as in May 2022. The employment index climbed by more than seven points since January 2022.
The rise in the July 2022 figure is linked to an increase in job postings on most platforms monitored by Slator. Observational data related to activity in the language industry in the month of June 2022 indicates that the hiring environment for translation, localization and interpretation remains stable in the second quarter of 2022.
Financing, hiring, layoffs
June was an active month for funding rounds covered by Slator, as Memsource secured $16 million in growth capital and AI dubbing startup Papercup raised $20 million in a funding round. Series A. Meanwhile, Sanas, an accent tech startup, raised $32 million in a Series A, and translation headphones startup Waverly Labs launched a crowdfunding campaign to raise capital.
In M&A, Argo Translation acquired e-learning specialist ICD; and German-based language services provider Transline acquired Micado Innovation.
More than LocJobs, more than 20 companies were hiring and there were almost 20 new job offers in June. Companies such as Acclaro, Ad Astra, Anzu, Lengoo, morning side, memoQ, Supertext, that worksand TALK posted their vacancies for roles spanning, Translation, interpreting, Sales, project managementand engineering.
Among publicly traded LSPs, RWS reported mixed results with revenue of $466 million for the six months ended March 31, 2022. New York-listed global digital healthcare company Uphealth reported a total business of $36 million for the first quarter of 2022, while game locator Keywords Studios held a Capital Markets Day.
The LIJI Slator relies on LinkedIn for some of its underlying data. The social media site has some 500 million users, many of whom share data about their skills, experience, location, company and job titles on their personal LinkedIn pages. There are over 600,000 profiles in the Translation and Localization category and a search using the keyword Localization also returns over 600,000 profiles.
In addition to using data from LinkedIn, the Slator LIJI also collects data from a variety of sources, including global job aggregation sites and additional direct company data collected from Slator LSPI companies.