Number of job vacancies hit record high
Business / Tue 12th Oct 2021 at 07:19am
THE number of job vacancies in the UK has hit a record high, according to the latest official figures reports the BBC.
Vacancies hit 1.1 million between July and September, the Office for National Statistics said, the highest level since records began in 2001.
The largest increase in vacancies was in the retail sector and in motor vehicle repair, it said.
The UK unemployment rate was estimated at 4.5%, compared with a rate of 5% before the pandemic.
“The jobs market has continued to recover from the effects of the coronavirus, with the number of employees on payroll in September now well exceeding pre-pandemic levels,” said Darren Morgan, director of economic statistics at the ONS.
“Vacancies also reached a new one-month record in September, at nearly 1.2 million, with our latest estimates suggesting that all industries have at least as many jobs on offer now as before the onset of Covid-19.”
Chancellor Rishi Sunak said it was “encouraging” to see the government’s jobs strategy working.
“The number of expected redundancies remained very low in September, there are more employees on payrolls than ever before and the unemployment rate has fallen for eight months in a row.”
However, Yael Selfin, chief economist at KPMG UK, said labour market shortages “could stunt” the UK’s economic recovery from the pandemic.
“The recovery is testing the capacity of the economy to adjust to a new post-pandemic environment, a task made more difficult by the reduced availability of overseas workers,” she said.
“Acute skill shortages have pushed vacancies to record levels for a second month in a row in September, as employers struggled to find skilled staff.”
Sectors that had large increases in vacancies included accommodation and food services, professional activities and manufacturing.