Insight 1
Job vacancies remain high…
While ‘all-occupation’ job vacancies remain at a record high, they have decreased for 10 consecutive quarters, with the latest data (Jan-March 2023) showing the lowest levels since June-August 2021.
In STEM fields, construction, IT, and manufacturing have driven a marginal decline, while scientific, technical, and professional sectors have remained stable in the last three months.
A post-pandemic recalibration in the IT sector has been well covered in the media throughout the latter part of 2022. Yet in the UK particularly, demand for talented individuals remains high.
At Matchtech, we've observed unadvertised vacancies increase over the last few quarters - which is potentially affecting job vacancy statistics - along with an unsettled start to 2023 for client and candidate confidence.
Job advertising rates indicate demand and employer efforts to fill vacancies. In the week ending on April 14, 2023, all-occupation job advertising numbers were at 78% vs last year, and down on the previous two months.
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Takeaway
All is not what it seems though…
Despite aggregate falling demand…
Our recommendation
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…across the UK 45% of employers were hiring in March
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…of these, 24% experienced challenges in recruiting
By broadening your pool of candidates to include adjacent industry sectors, as well as providing additional training to upskilling your employees to take on more advanced roles, you can begin to liberate hidden talent.
Additionally, through developing relationships with education providers to develop apprenticeship schemes or offer work experience to young people you will start to build additional talent pipeline.
Hear how NATS have addressed the skills shortage in their recruitment drives
Insight 1
Job vacancies remain high…
While ‘all-occupation’ job vacancies remain at a record high, they have decreased for 10 consecutive quarters, with the latest data (Jan-March 2023) showing the lowest levels since June-August 2021.
In STEM fields, construction, IT, and manufacturing have driven a marginal decline, while scientific, technical, and professional sectors have remained stable in the last three months.
A post-pandemic recalibration in the IT sector has been well covered in the media throughout the latter part of 2022. Yet in the UK particularly, demand for talented individuals remains high.
At Matchtech, we've observed unadvertised vacancies increase over the last few quarters - which is potentially affecting job vacancy statistics - along with an unsettled start to 2023 for client and candidate confidence.
Job advertising rates indicate demand and employer efforts to fill vacancies. In the week ending on April 14, 2023, all-occupation job advertising numbers were at 78% vs last year, and down on the previous two months.
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Despite aggregate falling demand…
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…across the UK 45% of employers were hiring in March
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