The Morgan McKinley Quarterly Employment Monitor registered a slight decrease of 2% in the number of professional job openings in Q3 2023 compared to the previous quarter across all professional sectors.
The job market has displayed consistency, with August emerging as the strongest month of the quarter. In contrast, September saw a 16.7% decline in job opportunities, which can be attributed to several factors, including companies reevaluating their hiring needs, seasonal variations and continued economic uncertainties.
Permanent positions continued to dominate the jobs market, representing 65% of professional job offers in Q3. This is a significant 17% increase in the number of permanent positions compared to the immediately prior quarter. However, compared to the same quarter a year ago, there was a 34% decrease in permanent positions and an 8% decrease in contract positions.
The report recorded a 21% decrease in the number of professional job seekers between Q2 and Q3. This reduction may be partially attributed to the large number of job seekers recorded in April 2023, particularly within banking and financial services, resulting from a strong influx of graduate candidates. Compared to the same period in 2022, there was a 6.5% decrease in the number of job seekers in Q3 2023.
Current most in-demand positions by discipline:
Technology: Software Developers, Data Analysts, Cybersecurity Managers, Cybersecurity Engineers, Cybersecurity Analysts, QA and Software Testing Specialists, DevOps Engineers, Full-Stack Developers, Power BI Developers, AI Implementation Specialists, Data Scientists, and Data Science Managers (with expertise in machine learning and predictive analytics ).
Financial Services: Customer Experience Specialists, Complaints and Resolutions Specialists, Corporate Relationship Manager, Corporate Development Analyst, Corporate Portfolio Manager, Insurance Underwriters, Claims Specialists, Insurance Brokers, Payment Specialists, Operations Managers, Compliance Specialists, Financial Advisors, Pension Specialists, Quality Assurance (QA ) Professionals, Learning and Development Managers, Advisors, Data Analysts, Cybersecurity Experts, Data Science Managers, Data Science Analysts, Customer Data Analyst, Regulatory Reporting Specialists, Data Quality Reporting Specialists, Investment Managers, Portfolio Managers, Environmental, Social, and Governance (ESG ) Specialists.
Accounting & Financing: Financial Accountant, Newly Qualified Accountants (Big 4/Top 10 trained ), Senior Accountants with 2-5 years of post-qualification experience, Tax Accountants, Tax Managers, Accounts Payable Specialists, Payroll Administrators, Financial Accountants, Accounts Assistants, Case Managers (Financial Services ), Credit Controllers.
Life Sciences & Engineering: Electrical Engineers, Biologists, Regulatory Affairs Specialists, Qualified Persons (QPs ), Maintenance Engineers, Cleaning Validation Engineers.
Projects, Transformation & Change: Project Managers, Business Analysts, Financial Analysts, Professionals with expertise in Enterprise Resource Planning (ERP ) systems, SAP Business Analysts, SAP Functional Analysts, SAP Data Analysts, Data Analysts, Data Scientists, Data Engineer, and Data Transformation Specialist.
Business Support: Executive Assistants (EAs ), Operations Managers, Legal Secretaries, Legal Receptionists, Receptionists, Office Administrators and Sales Administrators.
Human Resources: HR Operations Administrators and HR Managers, Learning and Development Specialists, and Learning and Development Managers.
Construction: Quantity Surveyors, Site Engineers, Project Managers, Design Engineers, Mechanical Project Managers, Electrical Project Managers.
Supply Chain & Procurement: Mid-level Purchasing/Procurement roles, Production Supervisors, Production Operators.
Multilingual: Sales Development Representatives, Business Development Representatives, Account Managers, Customer Support Representatives.
Marketing: Marketing Managers, Digital Marketing Executives, Communications Managers, Brand Managers/ Assistant Brand Managers, Consumer Insights Managers/ Market Research Managers.
Sales: Sales Executives, Technical Sales Executives, Sales Managers, Technical Sales Managers, Area Sales Managers
Legal: Employment Lawyers, Commercial Lawyers, Energy Lawyers, Corporate Lawyers, Property Lawyers.
Executive: Head of Risk, Head of Compliance, Head of Operational Resilience, Head of Finance
