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.
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.
