In June 2014, the British Government of the time, announced their headline scheme to power growth in the north. “The Northern Powerhouse” was meant to bring together cities across the North, so that they collectively could ‘take on the world’ in the words of George Osborne, who announced the initiative. Upon it being announced, a swathe of initiatives were introduced, to stimulate investment, including the Greater Manchester devolution deal along with the Northern Transport strategy. With that, what we have seen, is a geographic area that had when it was launched, accounted for 16.7% of the population of the country and 13% of the vacancies, see their share of the vacancy market rise to 20% now. Put simply, in terms of job creation, the North is outperforming the rest of the country.
After a roller coaster period, with record numbers of vacancies in 2022, there are signs the market is now starting to normalise, where by most accounts, it is now stabilising at the levels seen in 2019, so before the pandemic according to a new report by APSCo, and labour market data analysts Vacancysoft.
Although the economic slowdown is impacting Law Firm recruitment overall, Litigation/Dispute resolution is an area which is less dependent on the economic cycle than others, as a result, this has become the second largest area law firms have been recruiting for this year, according to the latest legal report by Search and labour market data analysts Vacancysoft.
Discover the latest Finance & Banking – UK Finance Labour Market Trends Report, July 2023 and stay ahead of the game in the recruitment industry. Explore key findings, industry insights, and potential challenges that lie ahead for finance professionals.
