After what seems like an eternity (4 months and 4 weeks) since the UK went into lockdown there appears to be a consensus that the UK recruitment market has finally started showing signs of life.
Whilst the overall number of vacancies still decreased for temporary and permanent positions the pace of the decline has eased markedly (KPMG and REC report on jobs) “With the economy opening up through June and July, we would expect an improving trend in the coming months as firms recover from the worst of the crisis” – Neil Carberry, Chief Executive of the REC
Hopefully, in the coming weeks and months, we start to see further stabilisation and recovery of the jobs market.
The Recruitment Trends Snapshot report from APSCo has shown similar results, as they report that the gap in number of vacancies between 2019 and 2020 is decreasing and that there has been a 6% increase in interviews in the last week of July compared with the first.
Ann Swain, CEO of APSCo comments: “As more of the UK aims to get back to work, it’s encouraging to see this recruitment activity. While the yearly decreases certainly paint a clear picture as to the significant impact the pandemic has had on hiring, the fact that we’re increasingly seeing smaller drops in annual comparisons suggests we’re heading in the right direction.”
However we are not out of the woods just yet, government initiatives like Boris Johnsons £5bn plan to “Build, build, build” should help to further stimulate the jobs market. We have already seen construction activity spike because of this plan. But we will need to see more government plans and initiatives to help further stimulate job growth.
These are encouraging signs for the UK and I am sure they are welcomed by professionals who are unfortunately out of work.
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