Vacancies

Why are there so many job vacancies in UK?

Why are there so many job vacancies in UK?

The UK employment market is thriving, with the biggest number of openings ever recorded, owing to a mix of post-Brexit labor shortages and the reopening of the economy after the repeal of Covid-19 limitations.

According to the Office for National Statistics, the number of job openings reached a new high of 1,172,000 during August to October 2021. However, the most recent figures suggest that unemployment has returned to pre-Covid levels. In July-September, there were just 1.3 jobless persons for every vacancy, another record low, indicating that the labor market is at its tightest in decades.

The construction business had the greatest increase in vacancies (41.1%) as compared to the previous quarter, followed by transportation and storage (40.4 per cent).

However, the UK's social care business has the most openings, with over 183,000 available — up from 175,000 in the previous quarter. There were 151,000 openings in hospitality, with two out of every five lodging and restaurant establishments reporting personnel shortages. Separate data reveal that 41% of firms with more over 10 workers stated that positions were more difficult to fill than usual for this time of year - particularly in hospitality, transportation and storage, and manufacturing.

The main reasons given were a shortage of suitable candidates, an inability to afford an appealing compensation package, and a decrease in the number of EU applications.

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