Recruitment Statistics - February 2024
Job Flow Index
The Firefish Job Flow Index allows you to explore recruitment statistics drawn from over 750 recruitment agencies.
Recruitment Overview
In February:
- The total volume of placements increased by 3%.
- Permanent placements increased by 9%.
- Temporary & contract placements increased by 1%.
- Temporary & contract placements were 12% higher than in February 2023.
Permanent placements were strong in February with the Construction and Blue Collar sectors leading the way with increases of 41% and 43% respectively. Permanent placements in the Finance & Accountancy sector increased by 17%, but the value of placements was significantly higher and the average revenue generated per recruiter in this sector increased by 224%.
Temporary and contract placements increased most significantly in the Engineering, Manufacturing, logistics and FMCG sector, rising by 57%. Temp & contract placements in the construction sector decreased by 4% MOM, but were 167% higher than in February 2023.
The Office for National Statistics is reporting that businesses' outlook continues to improve as we head into March, with more than one in five businesses expecting turnover to increase and 16% reporting increased turnover so far in 2024. Improved business outlook should translate into increased job vacancies heading into Q2 of 2024.
Placement rates have remained strong in February, exceeding the YOY performance. This strong month was expected following the significant spike in the number of jobs created in January. Job volumes have remained high in February, suggesting that March will also be strong for placements. Agencies are also receiving a higher-than-average volume of quality applications per job in correlation with an increase in applications from existing candidates being nurtured within the CRM.
The monthly Job Flow Index analyses recruitment statistics and industry trends to provide recruitment agency leaders with insight into market conditions.
Placements by sector
Permanent placements in the professional services sector increased by 9% in February. This was a 43% increase when compared to February 2023.
Temp & contract placements in the professional services sector increased by 8% in February.
Professional Services
Finance & Accountancy
Permanent placements in the finance and accountancy sector increased by 17% in February. The average revenue per recruiter also increased by 224% in this sector in February.
Temporary and contract placements in this sector increased by 45% in February.
Technology
Permanent placements in the technology sector increased by 23% in February. This was a 9% increase when compared to February 2023.
Temporary & contract placements in the technology sector decreased by 7% in February. This was a 1% decrease when compared to February 2023.
Jobs created and number of placements
The total number of placements made increased by 3% in February. The number of jobs created decreased by 3% in February.
The total number of placements made in February 2024 was 3% higher than in February 2023.
There was a 9% increase in the number of permanent placements made in February. There were 4% fewer permanent jobs created in February.
There was a 1% increase in the number of temp & contract placements made in February. The number of temp & contract jobs created decreased by 3% from January to February.
Permanent
Temp & Contract
Placements
Explore monthly recruitment statistics including agency placement trends. Compare jobs created to placements made and explore performance by sector.
Construction
Permanent placements in the construction sector increased by 41% in February. This was a 63% increase when compared to February 2024.
Temporary & contract placements in the construction sector decreased by 4% in February. This was also a 167% increase when compared to February 2023.
Engineering, Manufacturing, Logistics & FMCG
Permanent placements in the engineering, manufacturing, logistics & FMCG sector decreased by 14% in February. This was a 4% increase when compared to February 2023.
Temporary & contract placements in this sector increased by 57% in February. This was a 6% increase when compared to February 2023.
Sales & Digital Marketing
Permanent placements in the sales & digital marketing sector decreased by 26% in February.
Temporary and contract placements in sales & digital marketing decreased by 2% in February.
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Blue Collar
Permanent placements in the blue collar sector increased by 43% in February.
Temporary and contract placements in blue collar sector decreased by 14% in February.
Recruitment Marketing Statistics
Explore monthly recruitment agency marketing trends. Discover how different recruitment marketing strategies are performing.
Application Source
The source of applications for your agency's job is a good indicator of the strength of your agency's brand presence and candidate loyalty.
In February there was a 4% decrease in the total number of applications. Applications from existing candidates increased by 1%. Applications from new candidates decreased by 7%.
Increasing the volume of applications from candidates who are already in your system reduces the cost to acquire and time to fill. 85% of placements made through Firefish are made with existing candidates and placements are made 12 days faster than the industry average.
Job Adverts
This chart shows the number of new job adverts posted each month across all sectors and platforms. Multiple adverts can be posted per job, but this data indicates the volume of active adverts per month.
The number of job adverts posted decreased by 15% in February.
The number of job adverts posted typically declines from January to February. There was a 3% increase in the number of job adverts posted in February 2024 when compared to February 2023.
The number of quality applications per job was very high at 7 in February.
Throughout 2023 there was a steady rate of 5 quality applications per job vs an average of 4 in 2022.
Quality Applications Per Job
Applications from re-engaged candidates
87% of applications from re-engaged candidates were generated by Job Alerts in February.
Candidate applications from web sources
67% of applications from web sources were generated by Job Boards in February.
Rob Samuel
IT Manager, IntaPeople
Spec CVs Sent
The sending of speculative CVs (when there is no formal role available) can indicate market confidence and business development activity.
There was a 5% decrease in the number of spec CVs sent in February.
Putting data at the heart of your
recruitment agency.
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