London is open for recruitment business – it’s official!

According to the most recent KPMG and REC report on Jobs – May 2021, it seems that there is more good news for the London recruitment sector as recruitment firms witness a third successive rise in permanent placements during May. Temporary placements increased as a slower rate, but the  overall rise in vacancies was steep and the quickest for nearly seven years. Add the fact that the region has recorded the strongest ever rate of business expansion in 23 years then we should all let out a collective sigh of relief. There was a point during the first lockdown when I was seriously concerned about the future of the sector. Having said that, the market we work in hasn’t been too badly affected by lockdowns, I guess my peers in other sectors like catering may have found it much more difficult.

“As employer confidence grows, job-seekers remain cautious and candidate availability has fallen for the first time since the pandemic hit. The capital is facing a perfect storm with fewer EU candidates available, cautious job-seekers and people looking to re-skill as demand for staff rises. Unless employers and policy makers act quickly to re-skill job seekers to bridge the skills gap that’s emerged from the pandemic, they will struggle to fill their vacancies and hamper the capital’s recovery.” Adds Anna.

Easing of lockdown measures planned by the Government seem to be the main cause of the upturn. Anna Purchas, Senior Partner for KPMG in London, said: “Employers across the capital are sending a very strong message that London is open for business, with record rates of hiring since lockdown restrictions eased”. And, there is a lag in candidate availability, leading to a sellers’ market.