City AM: Insurance sector outperforms financial services in 2023
Vacancies in insurance have decreased by 15.1%, demonstrating the sector’s resilience compared to a 30% decline in financial services.
Vacancies in insurance have decreased by 15.1%, demonstrating the sector’s resilience compared to a 30% decline in financial services.
Job vacancies at UK consulting firms plunged by over 80% in 2023 due to factors such as weak economic growth, fewer deals in the City of London, and the uncertainty surrounding an upcoming general election.
2023 has seen a significant drop in accounting vacancies across financial services and commerce & industry. March marked the year’s peak in financial services with 532 vacancies, a 31% decrease from 2022, and the only increase was a 12% rise in November, according to the latest UK Finance Labour Market Trends report by Morgan McKinley and market data analysts Vacancysoft.
Looking at 2023, there has been a significant decline in hiring across the risk & compliance functions. Nonetheless, the real story emerging is how these functions are becoming an ever greater department within fintech, according to the latest UK Finance Labour Market trends report by Morgan McKinley and market data analysts Vacancysoft.
As Europe’s most advanced e-commerce market, the UK has approximately 60 million e-commerce users. With that, shopping online has become the norm, which has had implications for retailers on the high street, especially outside of main shopping hubs, where the pandemic period had resulted in a significant surge in activity. Now, post-pandemic, there has been a slowdown as the market has normalized, which has meant that when looking at e-commerce, there has been a drop of 42.5% in IT vacancies compared to 2022, according to the latest UK Tech Report by Talent Alpha and Vacancysoft.