If we were to analyze the data for the month of November this year, the data showcases a total of 40100 jobs vis-à-vis 61600 jobs in November 2019. This definitely reflects a dip owing to the second lockdown wave, as there is a 13% decline at a national level, in the availability of jobs in the market.
It is interesting to notice that despite the aftermath of the pandemic, the job market is making every effort to make a comeback as economy is being revived across the globe. However, the positive trend is that 65% of the market is still on the positive trend in comparison to 2019 and it would be interesting to observe how 2020 would conclude its economic trend.
The second lockdown has definitely had an impact on the economy in the UK, however not all regions have been slumped; it’s interesting to notice that some regions have made a paced recovery. The month of November looks quite encouraging as the whole of the UK showcases a recovery of 65% which is not a bad retrieval to begin with, given the strict restrictions in some regions.
- London showcases a –9% decline in comparison to October 2020 and it has to its credit a total of 70,681 number of jobs out of the total of 400,947 statistical data which is 17.63% of the total share of the total number of jobs at the national level.
- East Midlands and West Midlands follow suit showcasing a decline by -10% and -12% this month which make them the least affected in the England region.
Regional Trend – Talent market insights
The regional trend displays a comparison in the growth for all the 12 regions in comparison to the trend we noticed in 2019.
Of all the 12 regions in the UK, London is showing of signs of extremely slow recovery signs as it shows a recovery rate of 53% as against November 2019. It shows a decline of -2% in comparison to last month as against October 2019.
This region being the financial hub of UK is showing snail-pace recovery and is a cause of concern to businesses in the region
It would be thought-provoking to notice that
- North Eastern region has shown 87% recovery rate as against 84% of October 2019.
- The second region to be highlighted is the East Midlands which records an 83% recovery rate and showcases consistency in comparison to October 2019.
The second phase of lockdown and strict restrictions in some regions could be the reason why some of the other regions are struggling to showcase a spike in the growth rate
The month of November has had an impact overall on the performance across the expanse of the country due to the second lockdown. The country showcases a negative trend in the over-all growth this month.
- London, the hub of financial activities shows a growth rate of 26.8% over the past 3 months and shows a dip by 7% with a total of 50,439 jobs which is highest number of jobs as against all other cities.
- Manchester and Birmingham follows London’s trends; Manchester has a market share of 2.28% with 9,155 jobs in the city, with an overall growth of 39.3% over the past 3 months which is not very discouragingthough there is a decline by 12.6%.
- Birmingham stands third on the list with 8,139 jobs with a 2.03% market share. This city shows 45.2% growth over the past 3 months with a decline of 10.4% this month.
Out of the 308,331 jobs the following are considered to identify the top categories,
- This Healthcare sector has the total of 54,187 jobs records with the highest market share of 13.8% leaving the other sectors behind. This sector shows a decline of -19% as across the globe, everyone is getting used to the new ‘normal’.
- The second sector topping the chart is the Management and Consulting category, which records a market share of 10.9%. The reasons are quite tangible as the post pandemic has propelled many a businesses to rethink, re-strategize and realign their business goals, looking for more manpower in the C – suite of executives.
- Personalised Care and Services sector showcases a market share of 8.4% and takes the third position. With the lockdown coming to an end almost, businesses are trying to make a come-back and it reflects in the numbers.
- This pandemic has given the Healthcare industry, a huge boost and it takes the biggest chunk as about 43,311 jobs are associated with this industry. This industry mirrors a market share of 24.5% of the market share and shows a decline by -20.7% as far as growth is concerned this month. The growth rate has shown a drastic decrease as the situation post second phase of lockdown is trying to deal with the situation and get back to a new kind of normalcy.
- The second to notice in the industrial category is pertinent to the HR fraternity as the Recruitment and HR industry is showing a market share of 20.9% and has a growth rate of 5% which is a good sign for professionals associated with this industry.
- The Retail and Consumer Goods with a total of 16,690 jobs listed in this industry. This industry has shown a market share of only 9.4% and constitutes a dip by -24.99% in the negative in terms of growth.
An interesting fact we would like to highlight here is that the the Recruitment industry has shown positive signs of a growth trend, though in a small percentage, it gives the other industries hope of making a revival.
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