Hiring activity in the language industry continued its upward trajectory in November 2021. Following an increase of 3.8 points the previous month, in October 2021 the Slator Language Industry Job Index (LIJI) increased by ‘a similar amount, 3.4 points, in November.
The November 2021 LIJI rose to 168.75 from 165.33 in October 2021. The index is now at its highest level ever, surpassing a previous high the previous month, as well as pre-pandemic peaks in July 2019 and March 2020.
The index has climbed 60 points in total in 2021, since the start of the year; and more than 68 points since the launch of the LIJI three years ago in July 2018.
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 growth in the November 2021 figure is linked to an increase in job postings on many platforms monitored by Slator. Observational data related to activity in the language industry in the month of October 2021 indicates that the hiring environment for translation, localization and interpretation has remained dynamic.
Activity in the language industry reflects a broader economic recovery. Reuters reported in early October that the U.S. economy had “now recovered to half the jobs shortfall it faced in December, compared to pre-pandemic employment levels.”
Meanwhile, the European Commission forecasts GDP growth of 3.7% in 2021 among its member states, as well as accelerating momentum in the second half of 2021 and beyond.
Mergers & Acquisitions and Financing
Slator covered news on three M&A and financing deals in October. Life sciences translation provider Conversis has announced its acquisition of niche specialist Zebra Translations, and Polish company Argos Multilingual has acquired US rival Venga Global, roughly doubling in size.
Meanwhile, Indian-language SaaS translation platform Devnagri has closed a $0.6 million seed round led by Mumbai-based tech incubator Venture Catalyst and angel investment fund, Inflection Point Ventures (IPV).
A number of language service providers (LSPs) released their financial results during the month of October. Among them were two of the five super agencies, US-headquartered TransPerfect and UK-listed RWS.
TransPerfect said its revenue reached $279 million in the third quarter, with year-to-date revenue for the nine months ended Sept. 30, 2021 of $777 million. Its closest rival, RWS, said full-year revenue is expected to be around $965 million, with adjusted pre-tax profit likely to be $150 million or more.
Two Australian-listed companies have released their quarterly results for the three months ending September 30, 2021. Translation and subtitling provider Ai-Media generated revenue of 14.9 million AUD (11.2 million USD) for the first quarter of FY22, up 35% from the same period a year earlier (Q1 FY21), while Straker Translations reported unaudited revenue of NZD 11.9 million ( $8.6 million) in the second quarter, up 66% year-on-year.
October’s edition of Slator’s Language Industry Buyer Tracker (SlatorPro) featured 18 translation and localization buyers who joined new organizations or were recently promoted to new language roles.
In LSP recruitment news, Austrian company Janus Worldwide has announced the appointment of David Brett as Head of EMEA Sales. Slator also covered the appointments of Nicolas Bosovsky (COO) and José Luis Arias Parra (VP of Service Delivery) at Toppan Digital Language, Edgar Vargas Castañeda (VP of Growth Strategies) at TransPerfect, Hadar Gershuny (VP of R&D) at BLEND, and Natalie Ayers (director of marketing and communications) at United Language Group.
At LocJobs, there were more than 20 new vacancies in the month of October, as companies such as Travod, Acclaro, Alboum, CSOFT and others added their vacancies for positions covering account, supplier management, business development and project. management.
The Slator LIJI 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.