Bloomberg: McKinsey and Peers Slam Brakes on UK Jobs as Vacancies Dive 80%

Job vacancies at UK consulting firms plunged by over 80% in 2023 due to factors such as weak economic growth, fewer deals in the City of London, and the uncertainty surrounding an upcoming general election.

McKinsey and Co., Bain & Co., Boston Consulting Group, and Accenture collectively posted only 248 consulting jobs last year, down from 1,389 in the previous year. The Big Four accounting firms also saw a 60% decline in job postings.

James Chaplin, chief executive officer of Vacancysoft, said:

“That is the biggest year-on-year drop we have recorded anywhere across any business vertical in the UK. Other than the pandemic, the last time we saw drops of this magnitude was around the global financial crisis.”

Read the full article in Bloomberg.

The labour market data used in this press coverage was extracted from Vacancysoft Analytics. For more information or to book an interactive workshop, click here.

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