Here is our summary of the current state of the legal job market:
Locum Recruitment – Busy
The market has finally quietened down a bit, after an incredibly busy summer. Remote working is still of course the primary requirement for a lot of locums, and we still find it much easier to source remote working locums than office based in most areas of the UK. All areas of locum work remain busy , although we have not seen as much corporate commercial in recent times. Notable exceptions as usual are personal injury and employment law.
Locum assignment updates here: https://www.interimlawyers.co.uk/category/locum-solicitor-updates/
Permanent Recruitment – Very Busy
Finding PAYE/salaried staff for any jobs at the moment remains hard work – last month we only had 35 new candidates registering, which is the second lowest figure for a very long time indeed. We are however starting to see a bit of an uptake in expressions of interest for new roles coming in. Difficulties still arise primarily around remote working and salary expectations. Most recruitment for us is taking place from our database of existing candidates rather than job posting, which remains limited in its effect generally.
Vacancies can be viewed here: https://ten-percent.co.uk/vacancies/
Law Firms for Sale – Busy
Picking up after the summer break as buyers get back to the office and find we have a new batch of firms for sale and sellers chase up progress after their holidays! A number of firms have completed over the summer but there are a new batch of firms on the market now.
Full list of firms for sale at https://www.jonathanfagan.co.uk/law-accountancy-firms-for-sale/. For valuations, exit planning or a confidential discussion about a potential sale or acquisition generally please ring 01824 780937 and speak to Jonathan Fagan or email jf@jonathanfagan.co.uk
Ten Percent Legal Recruitment Statistics
General Statistics for August 2022 (bracketed number is for August 2021)
New permanent vacancies added: 34 (27)
New locum vacancies added: 60 (44)
New candidates registering: 35 (43)
KPMG & REC Report on Jobs UK September 2022
Summary
Permanent placement growth remains subdued
Temp billings expand at softest rate since February 2021
Vacancy growth slips to 18-month low
Commentary from Claire Warnes, Head of Education, Skills and Productivity at KPMG UK
“Unsurprisingly, the economic uncertainty continues to impact all aspects of business as we come to the end of the summer. August’s data show an increasingly challenging jobs market, both in the sharp decline in the supply of candidates and in the slowdown in recruitment which we have seen for the last few months.”
Commentary from Kate Shoesmith, REC Deputy CEO
“August was another month of growing placements across temporary and permanent roles. While the post-pandemic jobs rush is now abating, there were no real signs of a slowdown in employer demand. Indeed, reports from REC members suggest that any lowering of confidence in the market is driven primarily by candidates playing it safe, with the effect of further tightening the market. So it’s no surprise that pay rates continue to rise, especially considering increasing inflation.”
