Pre-Covid hiring returns to London, but second lockdown hits UK vacancies
The number of professional vacancies in London paying over £40k has reached pre pandemic levels, according to Apsco.
New data from Vacancysoft, as part of its Covid hiring tracker, reveals that the five day rolling average stood at over 500 vacancies in October. Amazon tops the list as the most active London business, posting 263 vacancies in October, followed by EY and Deloitte posting 144 and 122 jobs respectively. This highlights the huge demand for accounting professionals noted by Apsco in October (752 vacancies).
The data also reveals that 29.8% of recruitment activity amongst the city’s largest firms was for IT professionals to facilitate remote working.
Ann Swain, CEO of APSCo comments: “Next month’s data will be key to determining the impact the month-long national lockdown has had on recruitment activity. However, with Boris Johnson announcing that lockdown will end on 2nd December as planned, and positive news surrounding a mass vaccine rollout, we are cautiously optimistic about the future”.
The UK’s second national lockdown has already started to impact jobs as hiring has slowed, with just a 2% week-on-week increase in the number of roles advertised for the week ending 22nd November, according to Broadbean Technology.
Despite the number of roles advertised in the week ending 8th November up by 16%, Broadbean’s data reveals that by the middle of the month this fell sharply to a 2% rise.
However, some specialisms remain buoyant with demand for ICT and Insurance & Finance professionals both up week on week (11% and 22% respectively). This is due in large part to more organisations seeking support to navigate applications for business grants and furlough payments as well as the need for additional tech resources to manage remote working and digital transformation projects.
Leisure, Sports & Tourism experienced the sharpest contraction in vacancies with a 71% fall week on week.
Broadbean’s data reveals that hiring in the Capital remains stable, with a marginal week on week fall in vacancies of 0.6%. When compared to pre lockdown levels, numbers are down 30% on the week before the national lockdown, indicating that the uptick that the City was experiencing has been impacted. In contrast, demand for staff in Oxford has increased 16% week on week amidst news of the City’s University vaccine breakthrough.
Alex Fourlis, Managing Director at Broadbean Technology commented: “While the prospect of a second lockdown was certainly going to impact hiring activity, our data in the immediate aftermath suggested that many employers were operating business as usual with vacancies rising."
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