According to new data from LinkedIn the UK labour market is showing some promising signs of recovery. Around a month ago, the hiring rate was down 49% when compared with the same time last year. However, during the last two weeks of June this has climbed to 31%. While unemployment is certainly set to increase, it’s expected that hiring will keep improving as lockdown measures continue to lift. At industry level, the data shows that most UK industries have improved from the deep declines seen a few weeks ago at the height of the pandemic. For a closer look at which sectors are hiring, you can read our article here, or scroll down for the latest LinkedIn job vacancies.

• Legal, Software & IT Services and Corporate Services have seen the strongest rebound in hiring. These industries are now trending at -16/17% year-over-year. 
• Media & Communications (-38%), Construction (-38%), Manufacturing (-41%) and Recreation & Travel (-66%) showed some signs of improvement.

However, the latest figures show that the rate of recovery is uneven across sectors. Hiring within Highstreet Retail and Entertainment, in particular, remains very negatively impacted. UK retailers have experienced huge turbulence during the pandemic, especially those that lacked digital capabilities or weren’t able to adapt their business models during lockdown. Separate research also suggests that consumers might be feeling anxious about returning to stores to shop, with more than half of UK customers saying they will go shopping less.

• Despite the easing of lockdown restrictions, hiring in Retail (-34%) and Entertainment (-51%) showed little or no improvement over the last two weeks.
• Other sectors that were also below the national average include media and communications (-38 per cent), construction (-38 per cent), manufacturing (-41 per cent) and recreation and travel (-66 per cent).

Overall, the UK is lagging behind other large European economies, such as Italy and France, when it comes to hiring rates. However, as the country continues to ease its restrictions, it’s expected that this gap will start closing in the coming weeks. The positive hiring growth in China and France also correlates with these countries flattening the curve of infection. In places where there are still fluctuations in the number of cases, like the US, Spain, Germany, and Australia, there’s a slower pace of hiring recovery.

• Hiring in Italy and France fell to as much as -60/70% in mid-April, but is now trending above the UK. France showed robust gains in June largely driven by hiring in the healthcare and real estate industries. 
• Singapore showed the strongest growth over the past month on a par with China, reaching around 11% year-on-year by mid-June. The education industry drove the largest share of those hiring gains.  

In the week commencing 8^th July, the following companies are hiring in the UK

For a wider overview of the state of play in the UK after Coronavirus, read our article here or learn about bagging the best contracts post Covid here.  If you’re starting a contracting role, Umbrella Exchange 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 393 3881