Data from the UK’s Office for National Statistics show that the country’s employment market is recovering following the COVID-19 pandemic.
The number of payrolled employees in the country went up to 28.5mn in May 2021, which is 553,000 below the level that was recorded prior to the pandemic.
The pandemic hit industries across the country hard, but accommodation and food services, people under the age of 25, and London all got hit with the hardest drops. The ONS noted that these groups saw the biggest monthly increases as recovery moves along, but they’re still below pre-pandemic numbers.
February to April saw an increase in the employment rate of 0.2%, up to 75.2%, with a 0.3% drop in unemployment rate, down to 4.7%. Economic inactivity sat at 21.0%; practically unchanged.
The number of vacancies from March to May 2021 amounted to 758,000; just 27,000 below the pre-pandemic numbers in January. Accommodation and food services saw the best quarterly increases.
Recruitment & Employment Confederation CEO Neil Carberry stated that the labour market is recovering nicely, but labour shortages might become a problem. The data makes it clear that the job market is bouncing back with job vacancies going up to 24%, they say, but labour shortages could lead to delays in the employment market, which, in turn, can have serious consequences for the recovery.
Aspire founder Paul Farrer stated that digital, marketing, and tech firms are dealing with challenges even amidst the bounceback, as the sudden upsurge in demand for workers puts a lot of pressure on professional supplies.
Farrer noted that this might lead to more diversity in many a king kong advertising review and the like, as changes allow for cross-training, skill transferal, as well as remote working to help the disabled and ethnic professionals.