UK Labour Market – Employment rates hit record levels

The latest ONS statistics show employment rates continue to hit record levels with 76.1% constituting the joint-highest figure since comparable records began in 1971. Clearly at present, the UK jobs market remains robust despite wider concerns about the future of the economy beyond Brexit.

That said, candidates remain in short supply with many of our clients experiencing a decline in the availability of both permanent and temporary staff. The majority are finding it distinctly challenging to fill vacancies and to manage staffing shortages.

Indeed, both the ONS figures – which estimate the number of vacancies has fallen to the lowest since 2017 – and the latest REC report on jobs – which showed that demand for staff has increased at the slowest rate since January 2012 – paint a similar picture.

These corresponding reports both point to a marked slow-down in the number of job vacancies, possibly indicating growing uncertainty about the future of the economy.

Commenting on the latest statistics, Gi Group UK’s CEO Bev White said “Taking these candidate-led conditions into account, it’s essential that organisations review their recruitment processes to ensure that they are acting swiftly when they do find the right talent as well as ensuring they are exploring all available talent pools.”