UK 
United States
Amidst a backdrop of economic uncertainty and global conflicts, the employment landscape of the UK is undergoing significant shifts. While the highly competitive hiring environment presents challenges – particularly for high-demand job titles and AI-related skills – opportunities abound for organizations to leverage data-driven hiring strategies and rethink their value proposition to better source and retain top talent.
Our comprehensive "Spring/Summer 2024 Europe Labour Market Report” explores the intricate dynamics shaping these markets. Here’s a look at the landscape in the UK, as well as notable trends in Ireland:
Macro Environment
The employment markets in both the UK and Ireland have faced significant volatility due to a turbulent economic landscape. Ongoing global conflicts, persistent economic uncertainty, heightened energy costs, and fluctuations in inflation and interest rates have collectively fueled rising costs and contributed to a decline in hiring activity.
The UK job market has become more competitive, with a rise in available workers coupled with a decline in job vacancies. Meanwhile, the Irish job market has experienced a deceleration from the hiring boom of 2021-22, particularly in the technology sector, a key industry alongside pharmaceuticals.
