Hiring activity within the marketing industry has dropped dramatically following a record-breaking 12 months last year, according to new research from the Association of Professional Staffing Companies (APSCo), the trade association for the professional recruitment sector.
The data, provided by business intelligence specialist VacancySoft, revealed that demand for marketing specialists fell by 41.8% in the first half of 2023, compared to last year, with an overall annual decrease of 35.5% expected by the end of the year.
The largest number of new roles were reported in the Professional Services and Digital sectors, although both have seen an annual decrease. The Not-For-Profit sector is showing the most resilience in relation to marketing demand, with vacancies projected to rise by 12.9% year-on-year, on top of the 29.2% uplift noted in 2022. The Tech sector, on the other hand, is expected to record a 57.3% decrease in new marketing positions by the end of 2023.
Geographically, London dominates, with roles here accounting for 59.5% of all marketing vacancies. South East England was in second place and currently accounts for 10.1% of all available positions. The least affected regions were Yorkshire & The Humber and Wales, which both noted only modest decreases compared to vacancy numbers recorded in 2022.
Ann Swain, CEO of APSCo, comments:
“We’ve seen a significant drop in marketing vacancies over the past 12 months, which is likely a result of the wider economic challenges facing businesses across the UK which has led to marketing budgets being cut. It’s important to add, though, that this fall does also reflect a return to stabilisation following the exceptionally high levels of marketing recruitment that were noted in 2022.
“London is the media and communications hub of the UK so it’s not surprising that the capital accounts for the majority of jobs in the sector, however, it is likely we will see growth in other areas in the coming years as a result of the relocation of the government’s ‘policy hub’ for civil servants to Sheffield. This may present a different challenge for many employers who are already battling skills shortages and may have to recruit from locations where there isn’t an abundance of available talent.”
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