Magic Circle banking lawyer vacancies dropped 40.5% year-on-year in 2020. But which two member firms experienced growth? Download our legal labour market report now to find out who showed resilience.
Written in partnership with Legal Target, this report analyses the UK legal labour market through a national overview, then focusing on private practice, financial services, commerce and industry — and providing a comparison of top firms within each.
As we entered 2020, nobody could predict a pandemic that put massive strain on healthcare
systems and sent tremors throughout the global economy. For insurers — who, put simply, guarantee payments to policyholders for uncertain future events — it has proven a testing period.
The impact of COVID-19 on the Real Estate industry on overall recruitment has yet to return to the levels of 2019, there has been a noticeable uptick. In terms of the overall volumes in 2020, the average vacancies per month are down 63% in the industry year on year, which has broadly translated to demand for legal services dropping, where the number of vacancies in 2020 for Real Estate lawyers has fallen by 66% compared to last year.
As the UK economy restarts after lockdown, there are positive signs within the Insurance sector. So far this year, activity in London has dropped proportionately to last year, in that in 2019 39% of the vacancies were in the Capital, compared to 37% this year. The big question coming is what the impact of being outside the single market will be for the sector?