Industrial hiring fell significantly across all sectors in the fourth quarter compared to the third quarter, according to the Q4 2015 Global Industrial Hiring Index released today by executive search firm ZRG Partners. However, the report found year-over-year numbers were close to flat.

The index indicated an 18% decrease in global hiring demand quarter-over-quarter, slipping back to lower levels not seen since late 2014. ZRG Partners noted fourth-quarter 2015 numbers are very similar to the fourth quarter of 2014, which may indicate some seasonality to the hiring numbers tracked.

None of the seven industrial sectors tracked posted an increase in job postings during the fourth quarter. However, aerospace and defense had the best results, with a decline of 10% from the third quarter.

Chemical was the worst-performing sector, down 25% quarter over quarter, followed closely by declines in heavy equipment, oil and gas, and diversified manufacturing.

“The slide in the Q4 hiring index results reflects the continued caution we are seeing and hearing from our industrial clients — which we would attribute, at least in part, to a strong dollar, sluggish commodity prices, weakness in Asia and upcoming political and regulatory transition in Washington, DC,” said Nate Frank, managing director and global industrial practice leader of ZRG.

The Global Industrial Hiring Index analyzes hiring within selected benchmark companies in seven distinct segments. ZRG Partners collaborates with data providers Wanted Analytics, a CEB Company, and Pitchbook to assemble the sector data that drives the index.