With the clocks changing and the days getting longer, there becomes a tangible shift in the mood of the nation. Typically that translates into a pick-up in activity for retailers. Indeed, Since 2021, the only time that Q2 performed worse than Q1 was last year, equally, that did coincide with the sharp downturn in the economy caused by quantitative tightening, which instantly acted to squeeze the economy.
According to the latest Life Sciences Labour Market Trends report by CPL and market data analysts Vacancysoft, key recruitment trends show that in 2022, there were over 4,100 new scientific vacancies published in the ‘Golden Triangle’ (Cambridge, London and Oxford). This translates to a slight decrease from 2021, when there were over 4,500 jobs, resulting in a year-on-year fall of 9.1%.
Claims continue to grow, with recruitment within insurance firms persisting across all sectors. The escalating impact of climate change on the property sector is evidenced by a long-term increase in insurance claims payouts, surpassing those of a decade ago.
After enduring a challenging six months, which ultimately led to the UK entering a technical recession, signs of recovery are finally beginning to emerge. The North West region has managed to increase its share of the national total from 7.5% in 2022 to 8.5% in 2023. Turning to the current year, we observe an uptick in the northwest’s monthly average, increasing by 5.3% compared to 2023, which bodes well for regional recruiters.
After all, following 2023, the real estate industry is showing signs of picking up as interest rates fall. Residential Property, in part due to the chronic shortage of new houses being built, is already seeing prices rise. With commercial property, there is a deeper question about what kind of work space businesses want, in this new pandemic period. Insofar that nationwide, occupancy is still below pre-pandemic levels, some areas are doing better than others.
