Pharmaceuticals and life sciences jobs in the UK were down by 59% in November 2023 when compared to November 2022, according to research from the Association of Professional Staffing Companies (APSCo) and Broadbean Technology.

When compared to October 2023, vacancies also dropped by 35%. Meanwhile, applications for pharmaceuticals and life sciences jobs have also nose-dived, falling 64% month-on-month in November.

With the chancellor unveiling an investment package to boost the sciences remits in the Autumn Statement, APSCo has warned that hiring is likely to spike in the coming year, and recruiters need to be prepared to meet the demand.

Ann Swain, Global CEO of APSCo, said, “We may be experiencing a decline in jobs in the pharmaceuticals and life sciences sector, but when we consider this in the broader context of the last few years, this fall is likely a stabilisation of demand following the peaks of Covid-vaccine development years. Despite the current sentiment, employers and recruiters need to remain vigilant as an uptick could be on the cards soon.”

“The chancellor unveiled a £500 million investment package to bolster science and technology in the UK and it’s likely that we’ll soon see this impact recruitment activity. It takes a significant amount of time to train and development experts across pharmaceuticals and life sciences. With skills shortages still rife and application numbers tumbling, we could see a reinvigorated war for talent in the new year.”

Further data from APSCo and Broadbean showed permanent job vacancies in the legal sector were down 31% year-on-year in November while contract jobs also dipped 22% over the same period.

While this is largely in response to the reduction in billable hours, the statistics suggest that the current climate is also causing more professionals to remain in post rather than seek other opportunities. Permanent applications more than halved in November, falling by 58% month-on-month, by far the most pronounced fall of the last year.

Swain added,“We’re seeing a decline in legal hiring which coincides with the reports from PwC that the sector has seen a fall in billable hours and M&A activity. While this may have driven a slowdown in recruitment, it is the application numbers that are of significant importance. The data suggests that more legal professionals are choosing to stay put in the current climate which could have longer-term implications. There’s a healthy level of staff turnover rates that businesses expect, but with fewer people moving jobs, the legal sector will be facing a much tighter labour market next year.”