Covid-19 Vaccince Boosts Job Market Confidence

After a challenging 2020 the team at Arras People, like the rest of the UK, are hoping for a much improved 2021. Like many other industries, recruitment had one of the toughest years it has ever faced. But it has also stepped up and helped vital industries when they have needed us the most; helping find people to work in fighting the virus, as well as keeping the UK open for business.

With the announcement of a Covid-19 vaccine being approved and rolled out in December, according to the latest data provided by the KPMG and REC Report on Jobs, confidence in the UK recruitment market has increased. James Stewart (Vice Chair of KPMG) commented further:

“The emergence of a vaccine did bring more confidence to the jobs market with a small increase in permanent appointments. Temporary billings were also sharply up across the UK although London was a notable exception. “There is hopefully light at the end of the tunnel for both business and job seekers.”

So how do the figures show this?

Overall vacancies increase after a 2 month decline

After an initial bounce, then 2 months of decline, overall vacancies increased for the first time (see below). This upturn was shown across the country (albeit apart from London) and with the Brexit deadline passing and confidence in Covid-19 increasing, we can see that the industry is showing signs of recovery from 2020.

For permanent vacancies, the demand increase was only marginal, but still a move towards the right direction none the less. It was temporary roles that really showed to be the big movers as they saw their sharpest increase in 18 months.

Some Project Managers are in short supply

As always the Report on Jobs lists skills in demand and once again we saw both permanent and temporary Project Management candidates listed as being in short and excess supply!

This means project managers should be able to find vacancies as long as they’re looking in the right sectors. Unfortunately, the report doesn’t break this information down further so we can’t specify the sectors that are hiring PM’s. But we can see which sectors are hiring on a broader level below:

As we can see in the figures there are increases in sectors that typically require project managers. For example IT, Engineering, and Construction.

If you are in one of those sectors actively seeking project managers in short supply great! You should take advantage of this candidates market. If you are in one of the sectors where Project Managers are in excess supply then it is worth looking elsewhere to see what is in demand. Project Managers should be confident enough to apply their transferable skills to roles across various sectors, the trick of course being able to convince both recruiters and hiring managers that you have what it takes to do a great job.

Hopefully moving forward throughout the year confidence in the UK market will continue to grow as more vaccinations get delivered and we move closer to breaking free of lockdown. The current trends show that we are starting to recover from one of the hardest years on record and if all goes to plan we can get back on the growth path and create new and interesting roles which require the skills brought by project management practitioners…

If you would like to read the full Report on Jobs you can do so here>>>


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