© Reuters. UK Job Vacancies Hit Another High in Sign of Tight Labor Market
(Bloomberg) — UK job vacancies hit a new high last week, according to the Recruitment & Employment Confederation, providing further evidence that the labor market remains extraordinary tight.
Employers advertised 1.69 million jobs in the week to June 12, a record for 2022. Almost all occupations showed increases. The construction sector saw the biggest rises, with notable demand for tool makers, carpenters and construction supervisors.
Britain is suffering from severe staff shortages that are causing restaurants to close and have led to travel chaos at airports. That’s because hundreds of thousands of people who left the workforce when Covid-19 struck have chosen not to return.
The REC said the rising number of postings reflects the fact that job adverts are being left open for longer because companies are struggling to find suitable candidates.
“The jobs market is seeing very high demand in almost every local area and for almost every type of role,” said Neil Carberry, chief executive of the industry body. “The current glut of adverts reflects the challenge firms are facing. Shortages are constraining many firms’ ability to hire and grow.”
The REC survey follows a report from the Construction Industry Training Board, which said the industry needs to recruit 50,000 people a year to meet demand.
The West Midlands saw the biggest increase in job adverts last week, accounting for three of the top 10 hiring hotspots, the REC said. Probation officers were most sought after.
Carberry said that solving the participation problem, which has seen 450,000 people drop out of the workforce in the last two years, “will be essential to get the UK economy growing again.”
Read more:
World’s Worst Dropout Rate Adds to Headaches for UK Workforce
UK Jobs Market May Be Loosening With Surprise Drop in Median Pay
UK Real Wages Post Their Biggest Drop in Two Decades
©2022 Bloomberg L.P.
Source: Investing.com
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