17 June 2024 , 08:47
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The job market appears to be holding steady with around 1.7 million job adverts, signalling consistent demand for workers, according to new figures.
The Recruitment and Employment Confederation (REC) has observed that this figure has been relatively stable for some time now. Neil Carberry, the Chief Executive of REC, commented: "The number of active job adverts remains above 1.7 million which shows steady demand for workers despite slow progress in the wider economy."
"Employers are intent on hiring and investing in their own business but are acting more cautiously because of economic and political uncertainty. We expect this to change as inflation stays low and interest rates drop over the summer." Last month saw a particular uptick in job postings for roles such as stonemasons, building and civil engineering technicians, and forestry workers.
Conversely, there was a noticeable decrease in the number of adverts for positions like nannies and au pairs, probation officers, and data entry administrators, the report noted.
But the jobs market remains challenging as last week new figures showed UK unemployment unexpectedly surged to a two-year high. The Office for National Statistics (ONS) reported an increase in the unemployment rate to 4.4% across three months leading to April, up from 4.3% in the previous quarter. This unexpected rise defies predictions of no change and sees the highest level of unemployment since the third quarter of 2021.
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