Midlands – UK Regional Labour Market Trends, November 2023
West Midlands held the largest share in the region, yet it fell short of the lowest quarter in 2022
Key findings include:
- Both East & West Midlands see YOY decline, down 26.1% and 23.5% respectively
- Within IT, Management is the leading function now, with a 23.2% share
- Civil Engineers leading skill in demand for Engineering firms, but down 25%
- “Next”, from the Retail sector, had a substantial 94.5% uplift.
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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 is according to the latest UK National Labour Market Trends report by APSCo and labour market data analysts Vacancysoft.
Ann Swain – CEO – APSCo – comments:
“Accounting for 15% of total employment but contributing only 13% to the UK’s Gross Value Added (GVA), the Midlands grapples with a productivity gap that demands national and local government attention.”
Dynamic Shifts in Midlands IT Job Market 2023
In 2023, the IT job market in the Midlands underwent a substantial decline, especially in the first half, with a noteworthy 35.3% year-on-year decrease. Nevertheless, IT Management emerged as the leading sector, securing a 23.2% share. In specific roles, Project Management/PMO vacancies recorded the highest annual total, reaching 400.
Robust Growth in the Engineering Job Market
In 2023, February was notable as the peak month with 556 engineering vacancies published, while Q1 exhibited the most significant growth, boasting 1658 vacancies, a remarkable 24.1% surge compared to Q1 2022.
Companies Exhibit Noteworthy Growth in Recruitment
Next, Access and NFU Mutual, spanning retail, technology, and insurance sectors, demonstrate varied year-on-year increases in Marketing team recruitment, including Next’s substantial 94.5% uplift, Access’s forecasted 53.0% increase, and NFU Mutual’s modest 18.2% improvement.
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