Labour Market Tracker: Job advert trends stable during the General Election period - REC

•  The number of overall active postings in June 2024 was 1,689,040 – down by 1.6% on the number of postings in May 2024 but still above pre-pandemic levels.
• There were 737,584 new job postings in June 2024 – a 2.6% decline from the month before.
• Of the top ten jobs with the highest increase in postings from May to June, five were related to the driving and logistics industry.
• Compared to the previous month, the Construction industry had a 1.7% increase in the number of job postings, whereas Education (-1.8%) and Human Health and Social Work Activities (-4.7%) experienced declines.

Employer job adverts remain stable despite the uncertainty of the General Election period, according to the latest Recruitment & Employment Confederation (REC) and Lightcast Labour Market Tracker. 

General Elections can create significant hesitancy among employers in their hiring and investing because of uncertainty about the outcome of the vote and apprehension about the policies of a new government. June 2024 was the most intensive period of the snap General Election campaign when political parties published and promoted their manifestos. But the number of new job postings and overall active job postings were only marginally down on May 2024, and just a little further down compared to April 2024.

In June, the total number of active postings declined slightly to under 1.7m for the first time since February 2021. There were more than 1.6m active job postings in the UK, with 737,584 new job postings in June 2024. The number of active job postings declined by 1.6% compared to May.

REC Chief Executive Neil Carberry said:

“Recruiters reported some hesitancy among businesses about hiring in June, as firms waited for the General Election result. This is reflected in a further decline in job adverts to below 1.7m for the first time since 2021. The level remains close to the long-run trend, and above pre-pandemic norms, however.

“We expect to see some recovery over the summer as inflation remains low, interest rates start to fall, and political uncertainty has abated.

“The jobs market is proving remarkably resilient to economic pressures, and the new government should adopt an ‘if it ain’t broke, don’t fix it’ approach to our world-class temporary labour market. This includes ensuring the new deal for workers policies are implemented with practicality, advised by businesses as well as unions. Maintaining flexibility for both workers and employers is vital to the prosperity and growth at the centre of the Labour manifesto.

“The uptick in demand for construction workers is a good sign for recovery, while the increase in job postings for large goods drivers also indicates some level of underlying employer confidence. The growth in job postings for a couple of seasonal roles is welcome and we hope this will lead to a wider surge at last in summer seasonal hiring that makes up for a sluggish start to the period.”

Occupations with notable increases in job postings in June 2024 include Childminders (443.8%), Driving Instructors (191.1%) and Air Transport Operatives (57.8%). There was also growing demand for Train and Tram Drivers (41.5%), Undertakers, Mortuary and Crematorium Assistants (25.7%) and Business Sales Executives (20.1%).

Archivists, Conservators and Curators (-20.7%), Head Teachers and Principals (-29.1%) and Authors, Writers and Translators (-54.2%) all showed the largest decline in roles from May 2024 to June 2024. In the last Labour Market Tracker Prison Service Officers (Below Principal Officer) saw one of the largest declines in the number of job postings by 12.6%, this time that figure rises to a further decline of 16.1%.

Fermanagh and Omagh (17.0%), Derry City and Strabane (16.2%) and Redbridge and Waltham Forest (16.2%) had among the highest growth in job postings when compared to last month. Of the top ten counties with the highest growth, four were based in Northern Ireland.

Hartlepool and Stockton-on-Tees (-12.7%), Ealing (-15.2%) and East Sussex CC (-15.3%) all accounted for the sharpest decline in job postings. A third of the bottom ten areas showing the largest decline in active postings were in London.

Compared to the previous month, the construction industry had a 1.7% increase in the number of job postings, whereas Education (-1.8%) and Human Health and Social Work Activities (-4.7%) experienced declines.

Ends

Notes to editors:

1.     The Labour Market Tracker is produced by the REC in partnership with Lightcast, using their Job Postings Analytics data which is harvested from tens of thousands of job boards. Data was harvested in June 2024. For more details, see the attached annexes which, in league table format, detail the top and bottom ten county/unitary authorities for growth in job postings and growth by occupation type.

2.     ‘Active’ job postings are those which were live online during the specified time period. ‘New’ job postings are those which were added to the active stock during the specified time period.

3.     REC and Lightcast switched to analysing monthly data on a permanent basis in January 2024. They had trialled weekly and monthly data in parallel for the final months of 2023, and therefore confident that the data will offer the opportunity for clearer analysis.

The LMT (Labour Market Tracker) has also moved from analysing Standard Occupational Classification (SOC) 2010 to the revised SOC 2020. The main areas of change from the previous classification are:

a.     A review of the classification of roles as professional or associate professional
This means that occupations such as Paramedics, Multimedia Designers, Investment Analysts, and Taxation Experts, which were part of the “Associate Professional or Technical” classification in SOC 2010, have been reclassified as “Professional” occupations in SOC 2020.

b.     The reclassification of occupations associated with information technologies
This means that the growth in IT roles over the last decade or so has now been recognised by the creation of new unit groups such as Cyber Security, Quality and Testing, Networks, Web Design, Database Administrators, and IT Trainers.

c.     Disaggregation into less heterogenous unit groups
This includes the creation of a separate role for Logistics Management; distinguishing General Medical Practitioners from Specialist Medical Practitioners; a breakdown of nursing roles; and more detail on storage and warehouse roles.

d.     Overall, the new SOC 2020 classification system is more granular, with 43 more occupations at the 4-digit level than the 2010 version. This means that the REC can provide better and more up-to-date information, based on both the 43 the new classifications and the reviewed classifications.

4. The 'Nursery Education Teaching Professionals" (SOC 2315) will likely be getting a lower number of job postings as it is a new addition with SOC2020, previously it was Primary and Nursery Education Teaching Professionals, so it is separated out into Primary and Nursery.

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About the REC

The REC is the voice of the recruitment industry, speaking up for great recruiters. We drive standards and empower recruitment businesses to build better futures for great candidates and themselves. We are champions of an industry which is fundamental to the strength of the UK economy.

Find out more about the Recruitment & Employment Confederation at www.rec.uk.com.

About Lightcast

Lightcast (formerly Emsi Burning Glass) provides trusted global labour market data, analytics, and expert guidance that empowers communities, corporations, and learning providers to make informed decisions and navigate the increasingly complex world of work. With a database of more than one billion job postings and career profiles, our team provides best-in-class customer service with robust data, clear analysis, and expert guidance on skills, jobs, and opportunities.

Headquartered in Boston, Massachusetts, and Moscow, Idaho, Lightcast is active in more than 30 countries and has offices in the United Kingdom, Italy, New Zealand, and India. The company is backed by global private equity leader KKR. For more, visit www.lightcast.io/uk.

ANNEXES

Top ten and bottom ten county/unitary authorities for growth in job postings:

Top ten and bottom ten occupations by growth in job postings:

Key indicator occupations