Legal Job Market Update April 14th 2022
in Legal Job Market Reports

Legal Job Market Update April 14th 2022

Here is our summary of the current state of the legal job market:

Locum Recruitment – Busy
Numbers of locum roles coming into the company have remained higher than usual and still steady. The conveyancing market is still very busy in most areas of the country, but we have had reports of it quietening down a bit by some firms. Another source of work remains the current permanent recruitment shortage – very few candidates available and looking for permanent work (see below). This has resulted in longer term locum contracts.

Locum assignment updates here: https://www.interimlawyers.co.uk/category/locum-solicitor-updates/

Permanent Recruitment – Very Busy
Salaried role work is very busy, and we have now seen an increase in new candidates registering with us for the first time in many months. This does not mean however that candidates are specifically looking for new jobs necessarily. There is still a lot of uncertainty for candidates who are being very cautious about when to make a career move and the second is the lack of catch up yet with the shift in work culture across wide sections of the market. Many firms are returning to full time office based work, but employees have got used to much more flexibility and hold out for remote roles.

Vacancies can be viewed here: https://www.ten-percent.co.uk/vacancies/

Law Firms for Sale – Busy
Existing deals seem to be taking a lot longer to complete than anticipated at the moment but we are seeing numerous new enquiries coming through and an increase in the number of firms for sale, in part because we are growing as a business but also because more partners are considering retirement and new entrants are struggling to get reasonably priced PII so looking to purchase an existing firm to get going.

Full list at https://www.jonathanfagan.co.uk/law-accountancy-firms-for-sale/. For valuations or a confidential discussion about a potential sale or acquisition please ring 01824 780937 and speak to Jonathan Fagan or email jf@jonathanfagan.co.uk

Ten Percent Legal Recruitment Statistics

General Statistics for March 2022 (bracketed number is for March 2021)
New permanent vacancies added: 61 (56)
New locum vacancies added: 54 (39)
New candidates registering: 76 (79)

KMPG and REC Report on Jobs April 2022

Summary:
Permanent staff appointments rise at slowest rate for a year
Labour supply falls rapidly, driving record rise in starting salaries
Overall vacancy growth hits six-month high

Comment from KPMG
“There’s no end in sight to the deep-seated workforce challenges facing the UK economy.
Once again this month, job vacancies are increasing while there are simply not enough
candidates in all sectors to fill them. With fewer EU workers, the ongoing effects of the
pandemic, the economic impacts of the war in Ukraine and cost of living pressures, many
employers will continue to struggle to hire the talent and access the skills they need. With
unemployment staying low, there are many great opportunities for job-seekers to join or
rejoin the workforce in all sectors.”

Jonathan Fagan

Jonathan Fagan LLM FIRP is Managing Director of Ten-Percent Legal Recruitment. He has been recruiting solicitors and legal support staff for law firms and in house legal departments for over 20 years and handles roles from junior fee earners through to partners and law firm sales/purchases. A non-practising solicitor on the Roll since 2000, he is also the author of a number of legal career books, which are available at www.ten-percent.uk. You can contact Jonathan at cv@ten-percent.co.uk