Job vacancies hit record high

Despite the ending of the Furlough scheme, according to trade body the Recruitment and Employment Confederation (REC), the number of job vacancies in the UK has soared to a record high. The report shows that employers posted 221,000 job adverts last week, taking the total to 2.7m. The REC predicts that the number of job ads is unlikely to fall until next year. One effect of this will be that it puts further pressure on firms that have been hit by labour shortages caused by the pandemic and the departure of European workers post-Brexit. Neil Carberry, chief executive of the REC, said: “The latest job advert numbers show recruitment activity staying strong in the run-up to Christmas.” He went on to reiterate the recent calls of many for a “revolution in the skills system, especially focused on helping those furthest from the labour market into work.”

Source: The Independent, BBC

The Startup Comment: With reports of employment rates also being higher than predicted, this seems to indicate that the economy is recovering better than expected. Other than because of ill health, there would seem to be little reason why people cannot find employment, albeit this may mean relocation in some cases! Having said this there is a strong case for the elimination of the ‘zero hours’ contract and maybe subsidies for seasonal part-time agricultural workers.

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