Amid political transition and economic recovery, 2024 proved largely positive for the UK legal sector, with vacancies rising 14.2% across England and Wales. A post-election surge in M&A activity, especially large-cap buyouts, drove demand for legal professionals, aided by falling interest rates.
AI adoption into insurance is accelerating as businesses optimise processes to improve outcomes while streamlining headcounts, with claims in particular being impacted. As a result, despite a year where the sector saw record profits, vacancies have fallen by 11.7% in 2024 compared to the year before.
The Government initiative to invest in AI-related infrastructure is at a time when the industry is accelerating away and while the UK remains a global leader, the planned investment will facilitate further growth and hiring.
The combination of increased investment in AI, political shifts in the UK and falling interest rates has made 2024 a pivotal year for the finance sector.
A new year brings a new government, in both the UK and the USA, with significant policy shifts in both countries.
The general election’s immediate impact has, unsurprisingly, led to record recruitment, particularly in July. Moreover, Labour’s focus on employment law reforms has driven a surge in demand for employment lawyers, with August also seeing record levels of legal recruitment.
