There was a 5 % rise in insurance claims vacancies nationally compared with 2022, with recruitment volumes in 2024 remaining stable thus far. While claims handling remains the dominant skill, constituting 59% of the total, it recorded a decline, falling to 46%.
With the clocks changing and the days getting longer, there becomes a tangible shift in the mood of the nation. Typically that translates into a pick-up in activity for retailers. Indeed, Since 2021, the only time that Q2 performed worse than Q1 was last year, equally, that did coincide with the sharp downturn in the economy caused by quantitative tightening, which instantly acted to squeeze the economy.
When examining recruitment activity in the capital, the signs are positive. Indeed, there has been a 24.6% increase in recruitment within Commerce & Industry in 2024 compared to the monthly average of 2023, with increases in retail, media, and technology. In contrast, regional activity has yet to experience such an upturn, with aggregate vacancies down by 5.4% so far this year and Commerce & Industry experiencing a 5.7% drop specifically.
UK businesses are relocating jobs outside of London due to rising living and housing costs. London-based executive management, HR, and marketing roles have decreased by 41%, while remote work opportunities have doubled.
February saw Law firms post more vacancies for tax lawyers nationally than any other month over the prior two years. Furthermore, we expect a surge of 32.5% by the end of 2024. Factoring the regionalization happening within the sector, where the regions retain 80.5% of the national share, there has also been a noticeable shift in 2024 to date, with hiring in London on the rise.
