For recruiters in the sector, the signs of brexit are starting to be seen. The uncertainty caused by the political situation in Q1 led to a collapse in vacancies in law firms, where overall, volumes were down almost 100% compared to Q4 2018.
As mentioned previously, wheras Legal vacancies have dropped significantly so far this year, within the TMT industry specifically, overall activity has held up.
Analysing in-house by region, we see that activity in London has surged, with vacancies up over 30% since 2018. What this has meant is that the new inhouse vacancies being created are being disproportionately so in London, where the share within the capital has increased from 72% to over 83% in Q1.
Within the banks, we see activity in 2017 holding steady through the year and only dipping in Q4, where it then picked up again in 2018, but has been in decline as the year progressed, with Q4 2018 at a 2 year low. In terms of the legal vacancies within the banks we see a similar pattern, where recruitment activity ended up being in decline in 2018 also, mirroring the trend seen in the wider corporate governance roles.
Within the banks, we see activity in 2017 holding steady through the year and only dipping in Q4, where it then picked up again in 2018, but has been in decline as the year progressed, with Q4 2018 at a 2 year low. In terms of the legal vacancies within the banks we see a similar pattern, where recruitment activity ended up being in decline in 2018 also, mirroring the trend seen in the wider corporate governance roles.
– Overall, the total number of vacancies for lawyers has risen by almost 19% in 2018.
– Within Private Practice, London especially has seen a significant uptick in hiring
– Demand for in-house lawyers has increased the most within TMT, up 42% year on year.
