Fact File: Recruitment – COVID and The Job Market.

ARTICLES > NEWS > Fact File: Recruitment – COVID and The Job Market.
By Rebecca Brown
December 16, 2021

Indeed provided a very insightful presentation this month on the trends they are identifying via their website along with the latest unemployment statistics.

In summary:

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  • Unemployment rate is still below pre pandemic levels
  • Economic inactivity rate is higher than pre pandemic
  • Estimated almost 1 million missing from the labour market compared with pre pandemic.
    • Third of this figure can be explained by smaller population due to lower net migration from the combination of covid and brexit.
    • Two thirds is due to hiring economic inactivity, older people taking early retirement and younger people opting to stay in education longer
  • All of the above contribute to hiring challenges at present
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  • Existing financial cushions
  • Caring responsibilities
  • People are waiting for better opportunities to appear in the job market
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  • Hiring rates over the seasonal months is up but searches on indeed on the candidate portion of the website is down
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  • According to ONS, a record number of job switches took place over Q3 of this year, most of which between lower and medium skilled workers
  • Reasons include higher pay, career path change and flexibility
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  • Rising wages in different industries has a lot to do with the increased rate of job switches in Q3.

The full presentation is available to access via the Indeed website.

Further reading…

Top Tips – Recruiting Staff

Top Tips – Recruiting Staff

If the past year has taught us anything, it is to expect the unexpected. While we are embarking on a big step towards a ‘more normal’ life, it might come as a surprise that after a year of job loss and high numbers of unemployment, businesses are struggling to recruit staff.

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