Regional Focus with APSCo November 2020 – London
APSCo and Vacancysoft
Since the last London Regional Trends report in June, the city has emerged from the UK’s first national lockdown and entered a slow, gradual recovery.
Labour market data shows that in Q3, vacancy levels among the capital’s largest firms returned to pre-first-lockdown levels — with recruitment in September and October higher than February and March.
However, it’s unlikely this recovery will be enough to redress Q2’s dramatic drop. London’s hiring levels are set to be down 32.6% year-on-year. In addition, the report finds that:
- Vacancies in HR and marketing are the hardest hit, falling 44.6% and 43.5%; banking (-20.%) and IT are most resilient (-29.7%)
- Demand for marketing product management and sales account management experts plummeted by 54.3% and 51.8% year-on-year, respectively.
- Recruitment in TMT (-27.5%) and real estate (-24.9%) is relatively buoyant. Public sector and NFP professional vacancies are drastically down 57.7% compared to 2019.
- Amazon continues to grow, with 37.1% more vacancies than last year; recruitment at Deutsche Bank is up 93%. Job roles at HSBC and KPMG, however, are down 77% and 65.7%, year-on-year.
To find out more about the latest trends in London, download the report now!