Legal Job Market Report from Ten Percent Legal Recruitment, Interim Lawyers and Jonathan Fagan Business Brokers – January 2025
Here is our summary of the current state of the UK legal job market.
Locum Recruitment – Quiet
Locum work has remained relatively quiet (although we have come back to a busy order book in January), as winter is with us and traditionally firms don’t have the same number of absentees for annual leave etc. Conveyancing rates have remained lower and you can currently get residential conveyancing locum cover (remotely) from £30 per hour or £35 per hour for office based. A quick look at the most recently posted roles shows fields of law include court of protection, property litigation (still very hard to source), corporate and commercial contracts, commercial litigation, conveyancing, wills & probate and commercial property. Locum assignment updates here .
Permanent Recruitment – Busy
We have been inundated with permanent roles being registered after the Christmas break. Some of this is as always wishful thinking (deciding to recruit but not actually go through with it), but there is a clear increase in the market. Reports from our law firm clients both on the recruitment and M&A side is that they have seen quite an increase in work since Christmas and it has caught some firms by surprise. Recent vacancies in have been for litigation, corporate commercial, in house, conveyancing (quite a bit of this) and family. A good proportion of permanent vacancies still remain unfilled after 3 months – mainly because of the lack of candidates generally and the wide discrepancy between employer specified work conditions and candidate expectations. Permanent vacancies can be viewed here: https://www.ten-percent.co.uk/vacancies/
Law Firms for Sale – Very Busy
Very busy – in fact it is currently almost off the scale for the number of enquiries we are presently getting for law firms listed with us. It is a very good time to get listed as the market is going to remain busy for some time. There remains a good flow of buyer enquiries coming into us daily for our firms for sale. Full details of firms currently for sale on our website – list updated daily. For valuations, exit planning or a confidential discussion about a potential sale or acquisition generally please ring 01824 780937 or email jf@jonathanfagan.co.uk. You can also download our free detailed guides on Buying a Law Firm and Selling a Law Firm .
Ten Percent Group statistics for December 2024 (2024 figures in brackets)
- New locum roles added – 16 (10)
- New permanent roles added – 5 (24)
- New candidates added – 22 (30)
KPMG & REC Report on Jobs UK – 9th January 2025
This is a monthly report prepared by KPMG following a questionnaire sent to over 400 UK recruitment consultancies, including ourselves.
- Cost concerns and redundancies reported at UK companies
- Pay continues to rise for high quality candidates
- Staff availability increases to the greatest degree in six month
Commentary from Jon Holt, CEO of KPMG UK
“As we start the new year, it’s a muted one for the UK jobs market. December’s data shows weakening demand causing the biggest contraction in vacancies since August 2020, coupled with hiring intention declining at a pace not seen for 16 months. The hiring market could continue to show signs of caution in the short-term, as businesses pause to take stock of higher employment costs, a more gradual pace of interest rate cuts and rising inflation. However as 2025 progresses and UK economic growth picks up, businesses will need new talent. Salary inflation being at its steepest in four months shows they are still willing to compete for it.”
Commentary from Neil Carberry REC CEO
“This emphasises a weak mood in some businesses as they built their budgets for this year, and made changes designed to save on costs after a tough Budget. That said, sentiment can change quickly. December is always a hiring low point, and a new year brings new hope – with inflation under control, low unemployment and economic growth expected, the fundamentals are better than many appreciate. It is what happens now, as firms return to the market in January, that will decide the path ahead. Recruitment is one to watch in early 2025 because it is one of the earliest indicators of a broader economic recovery.”
