15 Stats on the Current State of the Job Market

12 Oct 2021

Recruitment Industry News

Back in April we published our roundup of the current state of the job market.

Things have changed a lot since then, with the furlough scheme ending and various services opening back up in full.

So we’ve revisited the numbers and compiled a list of 15 stats on the job market to help build a picture of what’s happening out in the market right now:

1) There are currently 1.9 million active job listings in the UK.

This is an increase from the 1.3 million job vacancies recorded in February 2021.

2) The UK’s unemployment rate is currently 4.6%.

The UK unemployment rate is the lowest it has been in 2021, however youth unemployment is three times higher than this.

3) Young people are 125% more likely to have become unemployed since March 2020.

Statistics show they are the group whose careers have been most impacted by the pandemic.

4) According to a recent REC survey, 97% of recruiters said it was taking longer than usual to fill vacancies.

In fact, 50% of recruiters surveyed said it now takes longer than a month to find suitable candidates.

5) Vacancies in arts, entertainment and recreation grew by 267% between May and July 2021.

The largest increases were seen in accommodation and food service.

6) The number of payroll jobs reported on the HMRC systems is now very close to its pre pandemic level at 28.9 million.

This compares with 29 million in March 2020 – though recovery is ongoing positive signs can be seen.

7) LinkedIn reports that since the outbreak of the pandemic, internal mobility has increased by nearly 20%.

Currently employees are a little more reluctant to change jobs, instead choosing to move within their current organisation.

8) 60% of candidates now expect faster feedback on their job application.

Think about the process for the candidate within your recruitment agency and whether you can speed things up to help meet expectations!

A study by the Hay Group found that 70% of candidates are even put off by a friend or colleague’s bad experience with a company.

9) E-commerce continues to be the fastest growing job sector in the UK.

Job titles include Driver, Supply Chain Associate, Warehouse Team Lead and Supply Chain Assistant, driven primarily by Amazon.

Digital content freelancing is another fast growing sector, with podcaster and content co-ordinator being particularly popular.

10) Over 90% of candidates use their mobile devices to look for their dream job.

It shows the importance of ensuring your website is easy to navigate on mobile!

11) 52% of remote workers reported working longer hours compared to before the pandemic.

25% reported working for more than 10 hours extra each week, with 41% saying they put in an extra five to ten hours per week.

12) 82% of workers in Britain want to work flexibly in the future.

This number increases to 87% of workers when speaking to women.

Remote working, flexi time and part time working were the most desirable, as well as job sharing and term time working.

13) The number of temporary employees in the UK increased by 7.9% between April and June 2021 compared to the previous year.

The number of temporary employees as a percentage of total employment was 5.8%, up from 5.4% when compared to the previous year.

14) Average total pay has increased by 8.8% compared to the previous year.

However the ONS said there are a number of compositional and base effects that could be inflating the growth.

15) Actual weekly hours worked in the UK increased by 50.9 million hours between April to June 2021 compared to the previous quarter.

The redundancy rate has also return to pre-pandemic levels.

 

Sources:

https://www.rec.uk.com/our-view/research/recruitment-insights/jobs-recovery-tracker

https://vervoe.com/recruitment-trends-2021/

https://www.onrec.com/news/news-archive/uk-unemployment-furlough-masking-the-true-extent-of-the-problem

https://www.onrec.com/news/news-archive/uk-unemployment-furlough-masking-the-true-extent-of-the-problem

https://www.rec.uk.com/our-view/news/press-releases/recruiters-concerned-labour-shortages-are-putting-economic-recovery-risk

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/jobsandvacanciesintheuk/august2021

https://www.bbc.co.uk/news/business-58241006

https://www.gradtouch.com/advice/article/content-fastest-growing-uk-job-sectors

https://www.peoplemanagement.co.uk/news/articles/half-professionals-working-longer-hours-at-home-poll-finds#gref

https://www.tuc.org.uk/research-analysis/reports/future-flexible-work

https://www2.staffingindustry.com/eng/Editorial/Daily-News/UK-Number-of-temporary-employees-up-7.9-job-vacancies-reach-record-high-58732

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