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Recruitment Statistics - January 2024

Job Flow Index

The Firefish Job Flow Index allows you to explore recruitment statistics drawn from over 750 recruitment agencies. 

Recruitment Overview

The total volume of placements increased by 54% in January. Permanent placements increased by 36% in January. Permanent placements were, however,  25% lower than in January 2023. Temporary & contract placements increased by 60% in January, which was also 5% higher than in January 2023. 

Every sector experienced an expected increase in placements for both perm and contract & temp in January following the seasonal dip. However, there was a mixed performance when compared to January 2023 with the majority of sectors achieving fewer placements YOY. The best performer YOY was the temporary & contract arm of the construction sector. Placements in this sector increased by 46% when compared to January 2023. The worst performer YOY was the temporary & contract arm of the engineering, manufacturing, logistics & FMCG sector. Placements in this sector decreased by 64% when compared to 2023. 

It is clear that business conditions were challenging at the end of 2023. There are, however, positive indications from businesses as we head into February. The Office for National Statistics is reporting that businesses' outlook for February is more positive and improved business performance will increase demand for candidates. 

The real positive from January is a dramatic increase in the volume of applications from both existing and new candidates. The combined total was higher than in any month in 2023 and the volume of applications from both new and existing candidates were higher than in any month in 2023. This indicates that there is a huge demand from candidates ready to be placed into roles and we should expect to see an increase in placements in February. 

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 January. This was a 7% increase when compared to January 2023. 

Temp & contract placements in the professional services sector increased by 52% in January. This was a 39% decrease when compared to January 2023.

Professional Services

Finance & Accountancy

Permanent placements in the finance and accountancy sector increased by 30% in January. This was a 34% decrease when compared to January 2023.

Temporary and contract placements in this sector increased by 67% in January.

Technology

Permanent placements in the technology sector increased by 62% in January. This was an 11% decrease when compared to January 2023.

Temporary & contract placements in the technology sector increased by 37% in January. This was a 25% decrease when compared to January 2023.

Jobs created and number of placements

The total number of placements made increased by 54% in January. The number of jobs created also increased by 87% in January. 

The total number of placements made in January 2024 was 4% lower than in January 2023. 

There was a 36% increase in the number of permanent placements made in January. There were 101% more permanent jobs created in January. 

The significant increase in jobs created in January suggests that placement rates should be high in Q1 of 2024. 

There was a 60% increase in the number of temp & contract placements made in January. The number of temp & contract jobs created increased by 67% from December to January. 

The number temp & contract placements made was 5% higher in January 2024 when compared to January 2023. 

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 17% in January. This was a 25% decrease when compared to January 2024.

Temporary & contract placements in the construction sector increased by 102% in January. This was also a 46% increase when compared to January 2023.

Engineering, Manufacturing, Logistics & FMCG

Permanent placements in the engineering, manufacturing, logistics & FMCG sector increased by 49% in January. This was a 12% decrease when compared to January 2023.

Temporary & contract placements in this sector increased by 47% in January. This was a 64% decrease when compared to January 2023, which was the best-performing month of the year for this sector.

Sales & Digital Marketing

Permanent placements in the sales & digital marketing sector increased by 77% in January. This was a 12% decrease when compared to January 2023.

Temporary and contract placements in sales & digital marketing increased by 4% in January. However, this was a 41% decrease when compared to January 2023.

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Blue Collar

Permanent placements in the blue collar sector increased by 21% in January. 

Temporary and contract placements in blue collar sector increased by 5% in January.

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 January there was a 66% increase in the total number of applications.

Applications from existing candidates increased by 57%.

Applications from new candidates increased by 70%.

Increasing the volume of applications from candidates who are already in your system reduces the cost to serve and time to fill.

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 increased by 59% in January. 

The number of job ads posted is typically highest in January as recruiters begin actively marketing into the new year. 

The number of quality applications per job increased to 6 in January. With an above-average volume of applications being made over the period, this increase is to be expected. 

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

84% of applications from re-engaged candidates were generated by Job Alerts in January.

Candidate applications from web sources

63% of applications from web sources were generated by Job Boards in January.

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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 110% increase in the number of spec CVs sent in January. With a high volume of spec CVs sent and an increased volume of applications, we should expect to see an increase in placements in February.

     
     
     
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