We have created a proxy dataset to analyse demand for various types of financial services jobs over time and by UK region
In my last post, I looked at financial services employment, roles and skills. Combining official and experimental data gives us a more nuanced (though still imperfect) understanding of labour demand within the sector. But one important angle that is still missing from the analysis is the geographical concentration of demand.
Another experimental dataset can start to give us a picture of how demand for roles that are common in the financial services sector is concentrated in different UK regions. The Office for National Statistics (ONS) has published estimates of online job advertisements based on data provided by recruitment platform Textkernel. This is similar to the online job advertisement data sourced from Adzuna used in my previous post. Again, the categories reflect role types, not industries, and give us a useful proxy for labour demand in these role types.
Looking at the whole-economy trend over the past 5 years in this area chart, we can see clearly how demand for jobs in all role types declined in 2020 as pandemic-related lockdowns were imposed—but also how demand for only some types of roles has ballooned since then. Adverts for roles in administration and customer services, engineering, healthcare, information and communications technology, and legal, human resources and social services have been far more prevalent since 2021 than they were in the pre-Covid period, while in other areas the post-pandemic recovery in demand has been in line with the historical trend. Clicking on an area segment in the chart below shows the data for just that role type; or use the filter boxes.