Vacancies drop as internships rise

As the number of overall vacancies drops thanks to COVID-19, internships posted have nearly increased by a third.

This is according to Broadbean Technology, who provide real-time statistics from the world’s largest network of job boards, found that job vacancies are down by 11 per cent where as internships are up by 30 per cent.

Large financial employers are implementing virtual internships to tackle lockdown restrictions such as Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley and UBS.

It was also found that contract positions increased by 25 per cent, perhaps due to the fact that IR35 has been delayed until 2021. 

Jobs in communications, marketing and PR are up by 37 per cent compared on a week by week basis for the end of May. The number of candidates applying for permanent roles are down 5 per cent year-on-year.

Alex Fourlis, managing director at Broadbean Technology said:

Despite the on-going economic crisis, it’s encouraging to see businesses still investing in future talent through virtual internships as it will be these individuals who will help companies succeed in the future when the impact of Covid-19 has lessened.  The most interesting revelation in my view, is the uptick in applications for contract and temporary roles in comparison to those applying for permanent positions. We certainly didn’t expect to see a drop in people seeking permanent employment during the current crisis. With fewer permanent jobs being advertised, we’d usually see an uptick in the number of applications per role as less options are available for jobseekers. This suggests that the furlough scheme is providing some sense of security for employees across the UK, with many perhaps reluctant to risk a career change at this time. It could also be the case that the good weather and number of bank holidays in May led to fewer people applying for new roles, as these factors can often influence jobseekers.

Broadbean Technology collated this data from 36,000 different job sites.

 

 

 

 

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Darius McQuaid

Darius is the editor of HRreview. He has previously worked as a finance reporter for the Daily Express. He studied his journalism masters at Press Association Training and graduated from the University of York with a degree in History.