12 August 2022
Within the week of 25-31 July, the variety of lively job adverts throughout the UK hit a brand new document excessive for 2022, in line with the Recruitment & Employment Confederation (REC)’s newest Labour Market Tracker.
The rising variety of lively postings general seemingly displays job adverts being left open for longer, with employers throughout the nation struggling to draw candidates for his or her vacancies. Subsequently, regardless of labour shortages, rising inflation and power prices, there is no such thing as a signal that the roles market is beginning to shrink, the Tracker famous.
The variety of new job adverts being posted every week has remained comparatively steady throughout late June and July, at between 180,000 and 200,000 per week. Within the final week of July there have been 182,000 new postings, 22% beneath this yr’s highest determine of 234,000, recorded at first of March.
REC additionally famous will increase in adverts for actors and entertainers (13.0%), driving instructors (12.4%), and dancers (11.1%) within the final week of July. Water and waste roles additionally noticed an increase in postings, together with water and sewerage plant operatives (9.5%) which might be associated to the extended dry climate and fears of droughts.
However, probation officers (-10.4%) noticed the most important weekly decline in lively job adverts. The well being and social care sector additionally recorded notable decreases, together with for hospital porters (-8.3%), childminders (-6.6%), and paramedics (-5.3%).
London noticed progress in job postings within the week of 25-31 July, with three of the highest ten hiring hotspots within the capital. Nevertheless, the native space with the very best improve in job adverts was Newry, Mourne and Down in Northern Eire (+8.3%), adopted by Haringey and Islington (+7.1%) and Chorley and West Lancashire (+7.0%).
On the different finish of the size, 5 out of the underside ten native areas for progress in lively job postings had been in Scotland. Of these, Moray (-9.8%), Orkney Islands (-6.6%), and Highland (-5.1%) noticed the most important falls.
Kate Shoesmith, Deputy CEO of the REC, mentioned, “This new knowledge exhibits the continued energy of the roles market, regardless of any wider financial uncertainty. The variety of job adverts being posted every week is steady. It’s a good time to be on the lookout for work as a jobseeker, as employers are having to suppose extra in regards to the pay, advantages, circumstances and improvement alternatives they provide each new starters and present workers as they compete for expertise.”
“There’s a hazard that with prices hovering, employers must reprioritise, as there’s nonetheless no viable help bundle for companies to fulfill these rising prices. We all know that employers’ confidence within the broader economic system has began to drop. Authorities should play its function, each in supporting folks and companies by way of the present disaster, and in addition by working with trade to create a sustainable labour market. We want a long-term workforce technique that encompasses expertise, immigration and makes childcare and native transport a part of the infrastructure of our labour market.”
John Grey, Vice President, UK Operations at Lightcast, mentioned, Whereas the financial headlines seem like very gloomy for the time being, with the Financial institution of England forecasting inflation of greater than 13% and a contraction in GDP till the tip of 2023, this bleak image doesn’t seem to have dented employer hiring exercise as but. Not solely have we simply seen one other 180,000 new job postings being positioned within the final week of July, however the complete variety of lively job postings is now at a document excessive of greater than 1.8 million.”
“This example of a contracting economic system, excessive inflation, but employer hiring exercise hitting document highs, is extremely uncommon,” Grey mentioned. “Whereas we’re more likely to see a slowdown in hiring exercise, the large questions hovering over the labour market within the coming months are how vital this slowdown shall be, and whether or not we may even begin to see employers shedding workers. To date we aren’t seeing any indicators of both, and the labour market stays surprisingly tight given the hostile financial circumstances we’re listening to about.”