Monthly Market Insights

Real Time Talent Market Insights Report October 2020

talent market insights data
Written by fatraven

talent market insights national trend

If we were to analyze the data for October this year, the information showcased a total of 460K jobs vis-à-vis 674K jobs in October 2019. This reflects a positive trend post the pandemic wave, as there is a 68% recovery in the availability of jobs in the market.

It is interesting that despite after pandemic, the job market is making every effort to make a comeback as the economy.Yet, there is 32% more to recover in this journey.

It would be interesting to wait and watch how 2020 responds to the market trends as the UK gets ready for the 3rd phase of a lockdown

tmi growth region

As UK is experiencing the third phase of a lock down and it has affected businesses across regions. Yet, it’s interesting to notice that some regions have made a paced recovery. October looks quite encouraging as the whole of the UK showcases a recovery of 32% which is not a bad retrieval to begin with.

  • Yorkshire and Humber records the highest growth rate of 7% with a job count of 35,127 out of the total 459,533 statistical data.
  • Close on its heels, to record a speedy is London, North West,East Midlands and West Midlands with a growth rate of 4% in comparison to last month.
  •  Scotland and North East regions have shown no change at all. Northern Ireland struggles as it has the least rate of growth with 5% in the negative

regional market trend

Of all the 12 regions in the UK, London shows signs of extremely slow recovery signs as it shows a growth rate of 55%. It shows a marginal recovery of 2% in comparison to last month.

This region being the Financial hub of UK is showing snail-pace recovery and is a cause of concern to businesses in the region.

Of all the 12 regions in the UK, it would be thought-provoking to notice that,

  • The North Eastern region has shown 84% growth rate as against 91% last month.
  • The second region to be highlighted is the East Midlands which records a 83% growth rate as against 85% last month.

The third phase of lock-down and strict restrictions in some regions could be the reason behind these numbers.

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city report

The pandemic has given businesses nightmares but it’s not woebegone completely. For instance Pourtsmouth reflects a 14% growth and tops the chart to show recovery from the aftermath of the lockdown.

This city has received a total of 2,359 jobs this month whcih is the least number of jobs from the list.
York has shown the least growth rate of 6% in the negative. Over the last three months, it has shown a growth rate of 59% which is quite average a growth rate

Out of the 319,417 jobs considered to identify the following top categories,

  • The healthcare sector has taken the biggest chunk of the jobs. A total of 67,105 jobs have associated with this sector alone. This sector records the highest growth of 15% leaving the other sectors behind.
  • The second sector is the management category, which records a growth of 10.7%. The reasons are quite tangible as the post pandemic has propelled many a businesses to rethink their business goals, looking for more manpower in the C – suite of executives.
  • Cleaning and Facilities sector showcases the least growth with as low as 21% in the negative.

With the covid-19 paranoia making its rounds, most organizations have been closed due to the third phase of lock-down and have incorporated work-from -home or have reduced manpower

talent market insights top industry

  • This pandemic has given the Healthcare industry, a huge boost and it takes the biggest chunk as about 55,238 jobs are associated with this industry. Across the world, there has been a shortage of Healthcare professionals to deal with the epidemic. This industry mirrors a market share of 26.3% and 5.42% growth rate. The growth rate has shown a drastic decrease as the situation post the pandemic is trying to deal with situation and get back to a new kind of normalcy.
  • The second to notice is the Retail and Consumer Goods with 23, 688 jobs.This industry has shown a growth rate of only 6% and constitutes a market share of 11.3%.
  • We would like to highlight here that the Business, Management and Consulting industry has shown the highest growth of 24.71% with a market share of 4.6%.The reason it charts the highest on the growth percentage is explainable as October is when the new term begins and the industry would have clocked more hirings during this month.
  • The least on the growth list is the Hospitality industry with a 22.35% in the negative and constitutes 6.08% of the market share, with a total of 9,641 jobs.

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Real Time Talent Market Insights Report September 2020