Monthly Market Insights

Talent Market Insights – January 2021

TMI
Written by fatraven
Summary :

The year begins with a total number of 415,620 jobs despite the lockdown and the pandemic aftermath. Though the year calls for tremendous pressure on the financial front for most businesses, there is something to look forward to from our January reports, as it trends an upward by reflecting a 7.73%. UK is going through bouts of lockdown and this in turn has affected businesses from operating from their full potential. While UK continues to experience restrictions, with the vaccines reaching out to people, there is a new ray of hope and individuals and businesses are expecting the economic situation to stabilize and regain a new ‘normal’ by autumn this year.

We did observe last year about the spike in gig economy and we won’t be surprised if the trend continues as organizations are precarious to take on more risks and long-term responsibilities, owing to business losses.

Having said that, a total of  94, 677 companies have advertised for various job roles which is 6.53% more than the total number in December. A total of 11,762 recruiters have been identified across various staffing agencies and 218,124  job titles have been identified in the job market.

The overall trend looks promising as people and businesses are hoping that the autumn of 2021 will bring some relief to the pandemic-stricken globe for more revival to take place across sectors.

The Talent Insight Report gives a comprehensive view of how post the pandemic, the multiple lock-downs have affected various industries and regions at a national level.

talent market insights national trend
National Trend:
  • The month of January showcases a total of 416K as against 386K jobs in 2020 December.
  • In comparison to 2020 January, it shows a 60% recovery on the onset of 2021 and it truly looks quite promising a start despite the odds.
  • In comparison to 2019 January, it reflects a recovery by 46% and it gives hopes to business to look forward for the market to recovery by the remaining 54% as the year progresses.
talent market insights regional growth
Regional Growth:
  • London is the fastest recovered region, following Manchester and Leeds.
  • London showcases a recovery by 4% and has shown positive signs a little bit in comparison to December 2020. The city has 74,232 as a total number of jobs with a market share of 17.9%.
  • East of England shows excellent recovery by 4% with a market share of 10.6% and 43, 870 total number of jobs.
  • West Midlands shows 3% recovery with a market share of 8.4% and with 34, 844 as its total number of jobs.
  • The whole of England in fact shows quite a bit of recovery as South East, North West and South West show recovery by  2%, 3.5% and 4.5%.
talent market insights regional
talent market insights regional

Regional Trend:

  • North East of England shows the highest signs of recovery with a 72%.
  • East Midlands and West Midlands shows a 70% of recovery.
  • London has recovered by 54% and looks promising.
  • The regional trend gives businesses hope that 2021 could be better in terms of a business recovery.
talent market insights top city
Top Cities :

Some of the top cities in the UK get the green light!

London seems promising, topping the list with a growth of 11.2% followed by a more promising revival by 17.6% achieved by Manchester and Leeds with a recovery of  15.1%.

  • This is followed by Birmingham with a modest 1% revival.
  • Our data also showcases Sheffield enter the top 10 league with 5% followed by Edinburgh and Cardiff.
  • Bristol has a recovery by 3%.

All the top cities are trying to get back on their feet with fresh perspectives with the onset of 2021.

talent market insights top sectors
Top Sectors:

The pandemic has had a different impact on healthcare and the associated industries;

  • While some businesses are crying about irreparable damages caused to them, the Healthcare sector shows a total market share of 14% with a market growth of 6% .
  • While this has been a growing sector, the other sectors can only claim a recovery; typically, Management and Consulting which has a market share of 4% and a market recovery of 4.3%.
  • Leisure, Travel and Hospitality has been badly hit and shows a decline by 9%.
talent market insights top industries
Top  Industries:
  • The new year has some surprising trends to grab eyeballs; the Aerospace and Defense industry has shown the maximum growth by 40%.
  • Business, Management and Consulting stand second with a growth of 29%.
  • The Media and Communication industry stands third in its growth by 9%.
  • 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 trend continues in 2021; it shows a steady positive trend by 6.1%.
  • The Legal industry has suffered the most with a decline by 7% and the Retail and Consumer Goods industry follows with a decline by 60.4%.

Explore more of our products fatraven

Leave a Comment