UK job vacancies down by more than 1% over the past year, latest figures show

UK job vacancies down by more than 1% over the past year, latest figures show

July 1, 2021 Comments Off on UK job vacancies down by more than 1% over the past year, latest figures show By admin

The latest job vacancy data shows that the number of job vacancies has fallen by more a whopping 1% in the past month, according to the Office for National Statistics. 

As a result, there were nearly 2 million vacancies in the UK in June compared to June 2016.

The number of people looking for work dropped by 1.2 million to a record low of 1.19 million.

The Office for Budget Responsibility (OBR) released its figures on Monday, confirming that job creation was set to be one of the biggest stories of the year.

The ONS said the overall unemployment rate fell by 1 percentage point to 5.4%.

“This is a good result as the overall job creation numbers have now come in for an upgrade from their fall in May, which was driven by a drop in the number seeking work, according the ONS,” said OBR deputy director for economic analysis, Joanne Cooper.

“The fall in the employment rate was due to a fall in people looking to find work and a fall as a result of a fall back to the March rate.”

The fall reflects the fact that people are continuing to seek work in part-time or part-year employment, which is still lower than they were at the end of last year.

“Despite the fall in overall job openings, however, the number looking for a job fell by more then a million, with almost 1 million people now seeking a job.”

However, the ONR data also showed that the job market has cooled somewhat in recent months.

The number of unemployed people increased by almost 100,000 in the 12 months to March, the biggest rise since November 2011, but the number holding on to their job dropped by just over 1 million, down by almost 1% from May.

The fall was also the biggest since February, when the unemployment rate rose by just under 2%.

While unemployment remains high, there are signs that some of the job losses in recent years have been offset by a rebound in hiring.

The ONS data showed that hiring activity has risen by 3.7% over that same period. 

However, there have been some signs of a cooling trend, with the number working part- time or not being able to find full-time work up by more, from 4.5 million to 4.7 million.

“We have had a steady rise in people working part time or taking unpaid leave, while also continuing to see the number continuing to rise in the labour market,” Cooper said.

“There is a big change in the jobless numbers over the last 12 months, with a number of industries seeing the most significant increase in the jobs they need to fill, including some of our biggest sectors, health, education, finance and construction.”

However, as this is the latest snapshot of the labour markets we do not have an estimate of the size of this recovery yet, but it is clear that there is much more to come.

“The ONB said it was pleased with the job growth and the reduction in unemployment, but noted that more work needs to be done to tackle the “vast and complex” problem of skills shortages.”

While the unemployment figures have been good news, we need to do more to support those who are currently out of work and find a way to fill those jobs,” said Cooper.”

That is why we have introduced a new job search tool, which has been rolled out to jobseekers, which allows them to see how they can find work, and helps them make an informed decision about how they spend their time.

“Follow Matt on Twitter: @MattBolling.

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