Monthly Market Insights

Talent Market Insights – December 2020

talent market insights
Written by fatraven

Summary:

2020 has seen many a low as Covid-19 has taken the world by storm. The whole of the UK experienced waves of the pandemic and had to get adapted to the concept of a ‘lockdown’, which in turn has had a huge impact on all businesses. Most of the businesses had to worry about cutting costs as they experienced losses due to the poor economy across the globe. Many of them had to take tough calls to terminate permanent job roles and replace them with temporary positions, giving rise to a ‘gig economy’ which is spiking.

The year began with a total number of 653K jobs and has dropped to 366,104 jobs in the month of December. This also reflects 8.69% lesser than what we had in November 2020. A total of 90,487 companies have advertised for various job roles which are 9.1% lesser than the total number in November. A total of 11,305 recruiters have been identified across various staffing agencies and 206,127 job titles have been identified in the job market.

The overall trend has decreased by 8.69% given the widespread pandemic and the festive season during December, which attributed to the decline in the talent market. 

With a fear of the break out of the mutated version of COVID, the UK might see signs of struggle to make a revival as businesses are not expected to make a complete come-back until February in 2021.

All businesses are being precarious before making any big move as far as business decisions are concerned; the idea is to stay afloat in a crucial time like this when losses have been huge. What with some big names like Victoria Secret’s, Thomas Cook, MoneyGram, and many of the likes which suffered huge setbacks. 

The Talent Insight Report gives a comprehensive view of how the pandemic has affected various industries and regions at a national level. 

national trends
National Trend:
  • The month of December showcases a total of 366K as against 429K jobs in 2019 December. 
  • It shows a positive trend by 73% at a national level as far as the availability of jobs is concerned.
  • The market has shown a dip by 23% which every business, hopes will pick up in 2021.
talent market insights regional trend growth
 Regional Growth:
  • London showcases a decline by 4% and has shown signs a little bit in comparison to November 2020 which reflected a 9% decline. The city has 67,865 total number of jobs with a market share of 18.54% 
  • South East, North West and East of England follow suit with a decline of 7%. South East has 52,047 total number of jobs with a market share of 14.22%. North West is third on the list with a total of 43,872 jobs with a market share of 11.98% while East of England has 34,720 jobs in total with a market share of 9.48%
regional trends tmi
regional trends
 Regional Trend:
  • North East of England shows the highest signs of recovery with a 102% as against an 87% growth in November
  • East Midlands shows a 101% of the recovery in December as against 87% in November.
  • London as well as shows signs of recovery by reflecting 73% in comparison to 53% in November. 
  • The regional trend gives businesses hope that 2021 could be better in terms of business recovery
talent market insights cities
 Top Cities:
  • The month of December showcases a negative trend overall in terms of growth this month.
  • London shows a negative trend of 3.4% in December and an overall of 12.8% growth over the last months. The city has a total of 48,728 number of jobs.
  • Manchester shows a negative trend of 6% for the month of December with a total of 8,604 jobs. The city shows an overall growth of 11.8% over the past 3 months 
  • Birmingham has 7,155 total number of jobs with a negative trend of 12.1% for the month of December. It has shown a growth of 15.3% over the past 3 months. 
talent market insights top sector
Top Sectors:
  • Out of the 277,998 jobs identified, the Healthcare sector takes the chunk as we have noticed through the year, given the Covid-19 situation. 55,807 jobs constitute to the Healthcare sector. It records a market share of 15.7%. This sector shows a 3% growth this month. The spread of the pandemic has given the sector a lot of scope for growth. 
  • The second on the list is the Management and Consulting sector with a total of 42,142 jobs attributing to the sector. This sector shows a market share of 11.8%. The sector shows a decline by 1% which is extremely negligible. The sector still has hopes of revival as the new year begins and many job openings in the sector need to fill up to enhance the strategic approach to businesses.
talent market insights top industries
Top Industries:
  • The Healthcare industry noticed a huge boost in 2020 as the pandemic took the world by storm and this brought about a huge demand for healthcare professionals.
  • The Healthcare industry attributes 26,217 jobs with a growth rate of 1.78% which is the only industry that showcases a positive trend.
  • The Retail and Consumer Goods industry stands second on the chart with a total of 8,783 number of jobs with a market share of 8.9%. However, the industry shows a negative trend by 24.13% as businesses have gone through the second wave of the pandemic and experienced a prolonged lockdown.

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