UK financial services sector shakes off Covid blows as vacancies surge
Consolidation in the legal sector has fallen to a nine-year low. (Getty Images)
Vacancies in the financial services sector are well on their way to recovery after a sharp slump at the start of the pandemic, according to new APSCo data.
Research from the Association of Professional Staffing Companies (APSCo) showed hiring fell 58 per cent in the second quarter of 2020 as Covid battered employment prospects.
However, numbers improved towards the end of year, with recruitment levels up 15.2 per cent year-on-year in December 2020.
Insurance sector holds firm
The insurance sector dominated hiring within financial services in 2020, accounting for almost a third of the total vacancies.
UK â APSCo submits recommendations to the government ahead of March Budget
19 January 2021
The Association of Professional Staffing Companies has submitted its recommendations to the UK government ahead of the March Budget, with retaining access to business support schemes to boost the economy high up the agenda.
In a submission sent to the Treasury, the trade body for professional staffing companies outlined its top four priorities to support the recruitment sector in the coming months:
Dynamic business support with a structured withdrawal: While the Covid-19 vaccine rollout is boosting business confidence to some degree, the financial support offered throughout the pandemic has provided a lifeline for many struggling companies. In order to provide security for firms and prevent employees, workers and the self-employed from facing a âcliff edgeâ, itâs crucial that support isnât prematurely or suddenly withdrawn and is, instead, managed in a structured w