According to the 2023 forecast, (Non-IT) Change vacancies are poised for remarkable growth, with a projected increase of 9.2%. As a result, vacancies this year on track to hit record levels, with a forecast of 113 versus 103 last year according to the latest UK Labour Market Trends report by Harrison Holgate and labour market data analysts Vacancysoft.
As the markets have normalised post-pandemic, so the job flow has slowed for scientists. In contrast, engineering vacancies are on the rise, with an estimated 1577 openings in 2023, marking a 6.5% increase from 2022 according to Life Sciences specialist recruiters CPL, and labour market data analysts Vacancysoft.
The outlook for the Midlands region, encompassing both west and east, is down on last year, with there being a significant decrease of -22.4%. Nonetheless, the West Midlands is poised to increase its share of the national job market from 6.7% in 2022 to 9.6% in 2023. This is according to the latest Regional Trends report with APSCo and Vacancysoft.
Recruitment levels are returning to 2019 levels. However, what has changed is that more vacancies are happening proportionately within the Banks. So for context, in 2019 we saw 381 legal vacancies in banks, in 2023 this is set to be over 500. In contrast, within the law firms, in 2019 we saw 577 banking vacancies, whereas this year we estimate the total to be barely over 400. This is according to the latest UK Legal Labour Market Trends report by Search, and labour market data analysts Vacancysoft.
Despite the fact vacancies have dropped in 2023 versus 2022, we see this as a temporary lull, as the attack vector is bigger than ever before. IT security vacancies are expected to total approximately 4,187 for the year, marking a 30.7% decrease from the 6,045 vacancies observed in 2022. Equally, at the same time, IT security has increased in share of all IT vacancies, from 4.1% last year, to 4.7%, making it one of the fastest-growing segments. This is according to the latest UK Technology Labour Market Trends report by Robert Walters and market data analysts Vacancysoft.
Looking back to 2019, the last pre-pandemic year, we observe a staggering 25% increase in marketing vacancies in 2023, with marketing constituting an 8.7% share of all professional vacancies in the sector, surpassing the 8.2% share observed in 2022. What this means is, not just is there a growth in marketing, but it is growing faster than almost any other area. This is according to the latest UK Finance Labour Market Trends report by Morgan Mckinley and market data analysts Vacancysoft.
