An increasingly tight labour market means it’s much harder for employers to fill job vacancies – impacting on their ability to operate normally and retain skills in the business.
An increasingly tight labour market means it’s much harder for employers to fill job vacancies – impacting on their ability to operate normally and retain skills in the business.
Although payroll employment continues to rise and the unemployment rate is falling, the headline figures reflect several distorting factors, including rising economic inactivity.
It is now harder than ever for businesses to fill job vacancies and there are no signs of improvement. In an increasingly tight labour market, competition for skills is ramping up wage costs, leaving many firms unable to recruit the people they need.
Commenting on the ONS Labour Market statistics for April 2022, BCC Head of Economics, Suren Thiru, said:
Rising payroll employment and declining unemployment suggests that demand for workers remains robust despite growing headwinds.
The increase in payroll employment in January suggests that Omicron had little effect on the UK labour market as demand for workers remained robust. While it is encouraging that payroll employment is rising and unemployment continues to fall, the strong headline figures masks significant underlying challenges.
The British Chambers of Commerce (BCC) has teamed up with the Institute for Apprenticeships and Technical Education (the Institute) to spread the word about life-changing apprenticeship opportunities.
Connecting job-ready people to vacancies is a welcome move. Our research shows that four out of five firms are struggling to find staff to fill jobs across a wide range of sectors and skill levels.
New figures released today by the British Chambers of Commerce saw the proportion of firms struggling to recruit staff reach new record levels.
Rising payroll employment and falling unemployment confirm that the UK jobs market has continued to rebound strongly despite a slowing recovery and the end of furlough. Record vacancies underscore the severe recruitment crunch facing businesses.
