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.
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As one of the largest insurance markets in the world, the UK industry is surpassed in size only by the U.S., China, and Japan, where London is at the heart of that. With that, since quantitative tightening was initiated last summer, nearly all other market segments have slowed down in the capital. Not with Insurance, with January 2023 hitting all-time record levels according to Insurance specialists Harrison Holgate, and labour market data analysts Vacancysoft.
After a roller coaster period, with record numbers of vacancies in 2022, there are signs the market is now starting to normalise, where by most accounts, it is now stabilising at the levels seen in 2019, so before the pandemic according to a new report by APSCo, and labour market data analysts Vacancysoft.
