Every generation bears witness to a technological jump which has the capacity to change the way we work. For example, from the first generation of mobile phones in the 1980s, through to smart phones and mobile devices this has transformed the way we do business. Nonetheless, we have seen increasing numbers of jobs displaced as different technologies have achieved scale.
In a sign of the times, industrial engineering, which encompasses aerospace and defence, has proven to be the top performing industry this past year, up 21% on 2022. At the same time the impact of quantitative tightening on the London market has been felt heavily across both finance and technology. As a result, vacancies in the capital are down 40% on the prior year.
2023 has seen a significant drop in accounting vacancies across financial services and commerce & industry. March marked the year’s peak in financial services with 532 vacancies, a 31% decrease from 2022, and the only increase was a 12% rise in November, according to the latest UK Finance Labour Market Trends report by Morgan McKinley and market data analysts Vacancysoft.
Despite a 39% decrease in recruitment patterns in London in 2023 compared to the previous year, the city maintains a pivotal position in professional opportunities, expected to contribute 34% of the UK’s vacancies, emphasizing its crucial role in the national job market. This is according to the latest UK National Labour Market Trends report by APSCo and labour market data analysts Vacancysoft.
The biotech sector has been on a downward trend this year, with vacancies down 34% in 2023. With that, the first quarter saw the highest concentration of job postings, tallying 351 vacancies. Indeed, January and March were the top two months in 2023, with 131 and 123 vacancies respectively. This is according to the latest Life Sciences Labour Market Trends report by CPL and market data analysts Vacancysoft.
In Q1 2023, the West Midlands, with 8794 vacancies, held the largest share in the region, yet it fell short of the lowest quarter in 2022 at 8860 vacancies, while the East Midlands peaked at 5310 jobs in Q1 2023, failing to surpass the total of 6601 vacancies in Q3 2022. This according to the latest UK National Labour Market Trends report by APSCo and labour market data analysts Vacancysoft.
