The drastic impact new lockdown restrictions are having on the jobs market
Whilst the Government’s new three-tier system of lockdown measures take effect across the country and businesses continue to struggle under the financial weight of the pandemic, it seems that this is having a knock-on effect in the recruitment market.
According to new data released today by Broadbean Technology, job vacancies within the UK decreased by a total of six per cent in the week ending 11th October.
The data evidenced that the rolling lockdowns and pandemic hotspots are the key driver behind this downturn. Much of the decline in vacancy numbers was reported in cities that have been hit hardest by Covid-19, with Manchester and Birmingham seeing advertised roles fall by eight per cent and five per cent,
respectively. This is indicative of the widespread uncertainty in the lead up to Boris Johnson’s announcement of the three-tier lockdown restrictions.
Not all bad news
However, whilst this news may appear to be a drastic drop, advertised roles were up 39% when compared to the first week of September, demonstrating that while uncertainty is clearly in the air as the Government’s three tier restrictions are implemented, the jobs market is still robust and fairing reasonably.
In addition, when analysing the number of applicants per vacancy (or APV), the data reveals that some of the hardest hit industries throughout the pandemic are beginning to see applicant numbers level out.
Within travel and tourism – an area that was devastated by the inability of many to leave their homes and go abroad – APV levels dropped 70% month-on-month, which is indicative of not only a return from furlough for many employees, but also an increase in professionals seeking alternative careers in light of the pandemic.
In comparison, at the height of the pandemic AVP levels increased by 47% in April and had more than doubled between March and May (170%). Across administration and secretarial roles, the APV level dropped 36% demonstrating that many individuals have returned from furlough as employers start to have not only the confidence, but also the ability to increase headcount and move away from the Government funding scheme.
Source: Executive Grapevine