Monthly Market Insights

Talent Market Insights September 2020

talent market insights data accusitation
Written by fatraven
talent market insights regional

The Covid has rendered the UK into an economic decline no doubt, however not all regions have been slumped; The UK is experiencing the third phase of a lockdown and it undoubtedly has impacted businesses across regions. However, it’s interesting to notice that some regions have made a paced recovery. The month of September looks quite encouraging as the whole of the UK showcases a recovery of 35% which is not a bad retrieval, to begin with.

The Northern Ireland region records the highest recovery of 51% with a low count of 5,805 number of jobs out of the total 447,898 statistical data. One good reason could be that Northern Ireland is popular for food processing and textile manufacturing which can never go obsolete as a demand. Close on its heels, to record a speedy revival is West Midlands with a top score of 35,020 number of jobs and a recovery percentage of 44%. West Midlands is known for its prominence in medical technology & healthcare, which is one of the sectors this region specializes in.

Surprisingly, the business hub, London takes the last place on the chart as far as recovery is concerned; it reflects a mere 29% despite being right on top with a high of 74,952 jobs, which is the highest number of jobs as against all the other regions. It takes a market share of 16.73% of the jobs; this is a clear indicator of the quality of jobs that have cropped up across regions.

talent report national trend

If we were to analyze the data for the month of September this year, the data showcases a total of 448K jobs vis-à-vis 647K jobs in September 2019. This definitely reflects a positive trend post the pandemic wave,as there is more than 70% recovery in the availability of jobs in the market.

It is quite stimulating 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, there is 30% more to recover in this journey. It would be interesting to wait and watch how the last quarter of 2020 responds to the market trends; after the initial bounce back as markets return fully to pre-COVID-19 levels to the ‘new-normal’

talent market insights regional wise growth

Of all the 12 regions in the UK, it would be thought-provoking to notice some facts that are backed by our data; The North Eastern region has shown a spike by 91% growth rate as against 58% last month. The popular industries in this region are Life Sciences, Digital, Energy and Business Services constitute to the diverse revenue generation here. 

The second on the road to recovery is the East Midlands region which records a 85% growth as against 55% last month. This region could be deemed a Manufacturing hub and since most manufacturing units are reviving their operations across the globe, keeping in mind the health and safety norms in mind, it is quite evident how this region has made a bounce back to action.

On the contrary, London has shown a mere 53% growth this month as against a 39% last month. London being the hub of a lot of businesses and the center of all Finance and Accounting activities, this city has taken a downturn due to the global economic slump.

 Wales has been a pioneer in Energy & Environment and Tourism and has shown slow progress and hence is second on the chart from the bottom in terms of showing retrieval with a 54% growth rate.

top city

The pandemic has given businesses nightmares but it’s not woebegone completely. Our data is illustrative of this, surprisingly for most businesses; for instance Peterborough reflects a 50.4% growth and tops the chart in terms of showing recovery from the aftermath of the pandemic. Peterborough has long been a place where industrial, agricultural and cultural businesses cooperate, collaborate and flourish and is known as a diverse business hub and hence the numbers explains the swift bounce-back tendencies. This city has received a total of 3,090 jobs this month.

Second on the path to recovery is Belfast which records 49.5% with a total of 2,431 jobs to its credit. Belfast is known for its machinery and equipment manufacturing, food processing, textile and electronics manufacturing which are the leading industries. Food processing and textile industries are ever in demand and hence would have acted primary revenue resource for the city of Belfast.

On the contrary, Plymouth chronicles the least growth of 20.1%; one reason could be that Plymouth is known for its Creative enterprises, Marine and Renewables and Tourism and Leisure; which is not a perennial need, especially during a pandemic. The second least in growth from the bottom is Brighton and Hove with a growth of 23.3%. This city is known for its Tourism and Advanced Engineering Industries, which globally are majorly affected sectors. Another astounding fact would be to notice London, a business hub recording a growth rate of only 25.6% despite having received 50,183 jobs which constitutes to 11.20% of the market share of the job market. This is clearly indicative of the quality of jobs in the talent market.

talent market insights top catagories

Out of the 314, 380 jobs considered to identify the top categories, the healthcare section has taken the chunk of the jobs, which is quite self-explanatory with the pandemic sending waves of paranoia and trauma
globally. A total of 62,088 jobs have been associated with this sector alone. This sector records the highest growth of 17.8% leaving the other sectors behind. The second sector topping the chart is the management category, which records a growth of 12.9%. 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.

On the other hand, we have Customer Service and the Educational sectors showcasing the least growth with as low as 4.8%. With the covid-19 paranoia making its rounds most governments around the world have temporarily closed educational institutions in an attempt to reduce the spread of COVID-19.As of 30 September 2020, approximately 1.077 billion learners are currently affected due to school closures in response to the pandemic. 

According to UNICEF monitoring, 53 countries are currently implementing nationwide closures. The least growth affected sectors doesn’t come as a surprise as the global business paradigms have changed overnight.

industries

This pandemic has given the Healthcare industrial sector a huge boost and it takes the biggest chunk as about 52, 280 jobs are associated with this industry. Across the world, there has been a dearth of Healthcare professionals to deal with the epidemic. This industry mirrors a market share of 26.1% of the market share and 24.83% growth rate. The growth rate has shown a 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 top the industrial category is the Retail and Consumer Goods with a total of 22, 275 jobs listed in this industry. This industry has shown a growth rate of only 12.95% and constitutes to a market share of 16.7%. The reason it tops second on this chart is probably people have gone back to old purchasing habits, though not in full swing.

An interesting fact we would like to highlight here is that the Education sector has shown the highest growth of a little more than 80% with a market share of 6%. The reason it charts the highest on the growth percentage is explainable as September is a month when the new term begins and the industry would have clocked more hirings during this month. The second highest on the growth list is the Transports and Logistics industry with a 65.77% increase in the number of jobs and constitutes to 4.5% of the market share, with a total of 9,051 number of jobs. Post the lockdown, with the restrictions to movement being relaxed to a great extent, this industry is steadily showing signs of recovery.

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