The Midlands’ job market in 2024 mirrors the broader economic challenges facing the UK. Sluggish GDP growth and persistent inflation are influencing employment trends. While investment in infrastructure projects like HS2 supports Real Estate & Construction, Brexit and global market instability continue to impact export-focused sectors.
Job vacancies in 2023 fall by 23.7% compared to 2022, according to the latest UK Labour Market Trends report by leading professional body APSCo and labour market data analysts Vacancysoft.
The outlook for the Midlands region, encompassing both west and east, is down on last year, with there being a significant decrease of -22.4%. Nonetheless, the West Midlands is poised to increase its share of the national job market from 6.7% in 2022 to 9.6% in 2023. This is according to the latest Regional Trends report with APSCo and Vacancysoft.