Connect with us

Hi, what are you looking for?

Editor’s Pick

UK job vacancies fall for eighth time in a row

<?xml encoding=”utf-8″ ??>

Job vacancies in the UK have fallen for the eighth time in a row as companies blamed economic pressures for holding back on hiring new staff.

The official figures come a day ahead of Wednesday’s Budget when the chancellor is expected to set out plans to encourage people back into work.

The number of jobs on offer between December and February fell by 51,000 compared with the three months before.

Despite the drop, the number of job vacancies remains high at 1.1 million.

There are also 328,000 more vacancies compared to the pre-pandemic period of between January and March 2020.

The rate of economic inactivity – people aged between 16 to 64 who are not in work and not seeking a job – dipped to 21.3% between November and January.

This was driven by younger people aged between 16 to 24 either getting jobs or looking for work.

However, there are still nine million economically inactive Britons who are not part of the workforce either because they are students, have retired or are suffering from long-term illness.

On Wednesday, it is anticipated that Chancellor Jeremy Hunt will detail how the government intends to entice people back into work. One measure expected to be announced is a boost to the amount that people can save for their pensions before it is taxed.

Danni Hewson, head of financial analysis at AJ Bell said this move was “an incredibly welcome start”, but added: “It does little to address labour issues at the lower end of end of the scale.”

James Reed, chairman of recruitment firm Reed, said that while there was a fall in new jobs “it’s not cause to panic”.

He told the BBC’s Today programme: “Actually there are over 300,000 more vacancies than there were this time pre-pandemic, three years ago, so the labour market is pretty buoyant still which is surprising many people.”

Robin Clevett, a self-employed carpenter and joiner who manages up to 10 subcontractors on construction projects, said that he was having to turn down work because there are not enough skilled workers available.

“Business is really buoyant at the moment,” he told the BBC. “Everyone needs trades – they need people to do insulation work, they need people to do new builds, refurbish old builds, replace cladding. There’s so much work but there’s not enough labour to go around so that’s what has driven this massive demand and adverts everywhere for all kinds of trades.”

He added: “I personally won’t take on work now knowing I’m not going to find the staff. So I’m turning down opportunities.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Source: The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the US Commodity Futures Trading Commission (CFTC) on Monday for operating what...


REUTERS BRUSSELS — European Union (EU) countries’ energy ministers are set to give final approval on Tuesday to the bloc’s law to end sales...


NEWLYWEDS pose for a photographer in front of overflowing garbage bins in a street near the Eiffel Tower as garbage has not been collected...


A WOMAN walks on the ice to a measuring point on the Pers Glacier near the Alpine resort of Pontresina, Switzerland, July 21, 2022....


RAWFILM-UNSPLASH BERLIN  — Global investments in energy transition technologies must more than quadruple annually to stay in line with commitments made under the Paris...


FREEPIK THE UNPRECEDENTED fiscal firepower used to protect the vulnerable from the harsh socio-economic impact of the COVID-19 pandemic and the resulting economic contraction...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.