As one of the largest insurance markets in the world, the UK industry is surpassed in size only by the U.S., China, and Japan, where London is at the heart of that. With that, since quantitative tightening was initiated last summer, nearly all other market segments have slowed down in the capital. Not with Insurance, with January 2023 hitting all-time record levels according to Insurance specialists Harrison Holgate, and labour market data analysts Vacancysoft.
The Real Estate Industry is starting to hit headwinds not seen in a generation, as interest rates start to rise. Insofar as the long-term average interest rate has been around 4-5%, the last decade has seen low rates and unprecedented amounts of quantitative easing which as they have ended, have meant the industry is under pressure.
When examining the overall half-year totals for 2023, we can see a substantial 54.2% decrease when compared to the same period in 2022, where across all sectors, companies have been slowing down.
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.
