New data from LinkedIn shows hiring is gradually rebounding and currently stands at its highest point since March. There’s been an increase of 6% since October, meaning that figures stand at 77% of those in November 2019. With the ending of the second lockdown last Wednesday, and the roll out of a vaccine confirmed, hiring is expected to see a month on month increase as we enter the new year. Here we take a look at which sectors are on the hunt for talent.
Hiring boom for legal, media and finance
In addition to healthcare and transportation & logistics, which have seen a higher demand than at this time in 2019, there’s also been a significant hiring boom in white collar industries. In the legal sector, for example, hiring was 42% higher in October than September, in media and communications it was 41% higher and in finance it was up 24%.
There’s been a shift in the type of roles on offer since the pandemic hit. While many firms in the professional services sector put their hiring plans on hold and took advantage of the furloughing scheme, there’s now a sharp need for candidates specialising in regulatory, treasury, financial planning and analysis roles. The shift comes as many businesses look to kickstart projects and press on with operations.
Travel and retail industries still struggling
Inevitably, the latest figures show that other industries are still struggling under the impact of the pandemic. Hiring in the recreation and travel industry fell a further 1% from September to October and is down a massive 43% on last year. Retail is another industry experiencing difficulty – it witnessed a 0.1% decline in hiring from September to October – down 20% from this time last year.
Although retail turnover remains strong, the sector is currently undergoing a period of “intense disruption”, with the pandemic set to cause a permanent change in the way people shop. Many retailers are in a period of transition, but new business models will see huge changes. With a greater proportion of shopping moving online, there will be fewer retail jobs on the high street. On the other hand, there’s likely to be an increased demand for skilled and higher paid roles, such as IT roles, within the wider retail support structure.
Travel also experienced decreases in hiring, with the rate falling another 1%. However last week Easyjet, Ryanair and the German airline Lufthansa all reported a massive jump in demand for flights. Easyjet reported that bookings rose 50% after initial vaccine trials showed signs of promise. The response to Black Friday holiday deals highlights pent-up consumer demand “to book something to look forward to”. It also follows news of the government’s ‘test to release’ scheme offering the option to reduce the required number of quarantine days from 14 to five when returning to the UK from some destinations.
Women’s careers most affected by Covid pandemic
Recent hiring figures have also highlighted a gender divide in the way women and men’s careers have been affected by the pandemic. Research from LSE found that women were more likely than men to lose their jobs and also to take on extra housework and childcare during the crisis. The percentage of women hired during the lockdown fell while the percentage of men being hired increased. Of roles that went to people aged over 30, some 62% of the successful applicants in April were male and just 38% were female. This might have been to do with some of the jobs in demand being traditionally male-dominated sectors, such as engineering and transport. Information on the firms that are currently hiring can be found here.
For more on two sectors that are currently hiring, see our articles on how the roll out of a vaccination programme in fuelling hiring demand in healthcare. Meanwhile, the PMs 10-point green recovery plan will create roles on hundreds of projects all over the UK. If you’re starting a new contract, ContractingWISE have access to a wide range of hassle-free services that can help you with setting up a limited company or finding the right umbrella company for you. To talk to a member of our team, call: 0203 642 8679