While month-on-month vacancy numbers saw little to no change, the year-on-year gap has slightly widened for October following several months of improvement in annual comparisons.
Resource Topic: APSCo Trend Reports
Year on year figures continue to reflect the profound effect that the COVID-19 pandemic has had on the professional recruitment sector. After two months of increases in both placements and vacancies, August’s figures showed a very slight decrease across some metrics, although given that this was the holiday season, that was to be expected.
The UK recruitment sector remains in decline. Permanent and Contract roles both down 66% and 56% Year on Year and 14% and 17% Month on Month, respectively. It’s clear that decline seen in previous months continues however, there is some room for optimism with perm placements up 19% Year on Year.
Another negative month for new job growth across hiring for professionals in the UK. Average figures for the month of April when compared with the first 16 working days of March (pre-lockdown), show that new vacancies for professional contractors were down by 16%. Permanent roles were down by 52%.
This is the first COVID-19 special report from APSco. The impact of COVID-19 on the UK Staffing & Recruitment sector has begun. While not all sectors have been affected by the reduced demand for new jobs to the same extent, indicators like daily Job and Interview metrics are down across the board.
After a huge seasonal uptick in demand for perm vacancies at the beginning of the year, these figures levelled out in February, with both perm and contract vacancies dropping 8.6% and 7.4% MoM, respectively. A drop in contracts revenue is linked to IR35 regulations, but the soft approach by the government should result in a bounce-back.