While new research from the Association of Professional Staffing Companies has revealed a 35 percent drop in vacancies between October and November 2023, the trade association has warned recruiters to prepare for a hiring spike following investment in the sector.

The data – provided by the world’s largest network of job boards, Broadbean Technology – painted a concerning picture for annual job vacancies which were also down by 59 percent in November. Despite this decline, applications for pharmaceuticals and life sciences jobs have nose-dived, falling 64 percent 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.

“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 stabilization 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”, comments Ann Swain, Global CEO of APSCo.

“With skills shortages still rife and application numbers tumbling, we could see a reinvigorated war for talent in the New Year”, Swain concludes.