The November 2020 London Regional Trends report shows that hiring levels are set to be down 32.6% year-on-year. The report also finds that vacancies in HR and marketing are the hardest hit, banking and IT the most resilient. And recruitment at Amazon and Deutsche Bank continues to grow, despite the pandemic.
Vacancies across real estate and construction began the year positively, with January 2020 posting 11.2% more jobs year-on-year. That optimism, however, subsided quickly with the emergence of covid-19. Summer’s easing of lockdown coincided with July’s announcement of a stamp duty cut and a £3bn grant to make houses greener. The sector responded by ramping up vacancies that month to 2,713, up 93% compared to June.
As 2020 draws to a close, the impact of the covid crisis has been manifesting in a multitude of ways for people working in IT and Development specifically. Indeed, this can be seen in the fact that some companies are so actively embracing the change, that their IT roles are being promoted as remote, not just now, but after the COVID period is over too. From the latest analysis, over 6% of IT roles are being positioned as permanently remote.
The impact of COVID-19 on the Real Estate industry on overall recruitment has yet to return to the levels of 2019, there has been a noticeable uptick. In terms of the overall volumes in 2020, the average vacancies per month are down 63% in the industry year on year, which has broadly translated to demand for legal services dropping, where the number of vacancies in 2020 for Real Estate lawyers has fallen by 66% compared to last year.
As the COVID-19 crisis rages, so businesses are changing the way they hire to enable them to deliver. Already before 2020, there had been a trend to increasing numbers of FTC roles, however, since spring this has accelerated. In the UK FTC roles are up 14% on last year, where across the EU this is even greater, at 24%.