Labour Market Tracker: The jobs market continued to moderate in September as recruiters wait for signal to start hiring - REC

• The number of overall active job postings in September 2024 was 1,544,753 – a decrease of 10.0% on the same number in August 2024. This continues a trend of moderation back to pre-pandemic levels. Notably, the last time that job postings were 1.5m was in January 2021.
• There were 666,542 new job postings in September 2024 – a 7.2% decline from the month before.
• Ahead of September retail sales expected to be published today (Fri), REC’s own data shows that retail occupations overall also saw a fall in the number of job postings in September 2024 compared to August 2024.
• We outline opportunities for jobseekers to land internships.

 

There were 666,542 new job postings in September 2024, according to the latest Recruitment & Employment Confederation (REC) and Lightcast Labour Market Tracker.

This is a decline in new job postings of 7.2% compared to August 2024.

The number of overall active postings in September 2024 was 1,544,753, slipping below 1.6m where it has sat for two years apart from a dip in December 2023.

Despite these falls, there are still sectors with a high number of vacancies, such as more than 33,000 job posting for Programmers and Software Development Professionals, more than 22,000 job postings for Solicitors and Lawyers and more than 21,000 job postings for Large Goods Vehicle Drivers.

REC Chief Executive Neil Carberry said:

“A fall in new job ads is symptomatic of a wait-and-see approach some employers are taking as they wait for more from the government around their plans to fuel the economy. This week’s announcement of the Industrial Strategy has helped, as has the clarity on the Employment Rights Bill. A longer timescale for the Bill has settled fears of policies being rushed in, but there are still nerves about the longer-term impact on hiring with so much still to determine.

“This is why most businesses are looking to the Budget at the end of the month before they decide how to invest, to tell them what money they will have to invest in hiring. The Chancellor must demonstrate an understanding of the challenging cost environment that businesses face after a period of high inflation and interest rates, and the relief they now need.

“While the job postings are down, they still indicate a range of skills in short supply across the economy.”

Today’s Labour Market Tracker shows that Head Teachers and Principals (41.6%), School Midday and Crossing Patrol Occupations (25.5%) and Authors, Writers and Translators (19.9%) had the largest increase in the number of job postings in September.

Air Transport Operatives (-31.8%), Driving Instructors (-38.1%) and Childminders (-67.1%) all showed the largest decline in roles from August to September 2024.

Mid Ulster (-20.9%), Fermanagh and Omagh (-24.4%) and Powys (-24.8%) all accounted for the sharpest decline in job postings.

Industries spotlight

Retail

Ahead of September retail sales expected to be published today (Fri), REC reveals that retail occupations overall in the UK saw a fall in the number of job postings in September 2024. But the roles with the highest increase in job postings were Shelf Fillers (8.9%), Sales and Retail Assistants (1.9%) and Roundspersons and Van Salespersons (0.7%). Occupations with the biggest decreases in the number of job postings in this sector were Collector Salespersons and Credit Agents (-20.7%), Retail Cashiers and Check-out Operators (-14.9%) and Sales Administrators (-9.1%).

Healthcare:

Caretakers (1.8%) had the highest growth in job postings in the health and care sector. Whereas Counsellors (-20.8%), Registered Children's Nurses (-21.2%) and Physiotherapists (-21.8%) had the sharpest decline in job postings.

Logistics and Drivers:

Within the Logistics and Drivers sector, all roles saw a decline, overall, the industry saw an 11.9% decline in the number of job postings from August to September. Postal Workers (14.7%) and Delivery Drivers (4.1%) had the highest increase in the number of job postings. The steepest decline in job postings was for Directors in Logistics, Warehousing and Transport (-17.2%), Road Transport Drivers (-17.3%) and Mobile Machine Drivers and Operatives (-19.8%)

The best opportunities for jobseekers to get internships in the UK right now.

Internships can give people the experience necessary to get a contract or permanent role, as well as provide opportunities for networking and to explore a sector more widely. REC conducted an analysis of job postings for internships, revealing key trends for job seekers who have just left school or university this summer, and who may be struggling to find work or unsure of which career path to follow. It comes as the Institute of Student Employers (ISE) annual recruitment survey this week reports a slowdown in graduate jobs growth, with ISE urging students to try to focus their applications and get work experience.

REC’s data finds:

• The industries with the highest number of internship roles in September 2024 are Professional, Scientific and Technical Activities (591 postings), Manufacturing (523 postings) and Financial and Insurance Activities (427 postings).
• As for occupations, Functional Managers and Directors (536 postings), Sales, Marketing and Related Associate Professionals (328 postings), Information Technology Professionals (314 postings) and HR, Training and Other Vocational Associate Guidance Professionals (258 postings) had the highest demand for interns.
• Looking at the previous few years, we can see that internship posting activity in 2022 to 2024 peaks in March. For young people looking for their next career step, March looks the most opportune time to look for new internship roles.
• Around a third (35%) of internships posted were based in London, making it the most popular region for internship postings. The South East of England and East of England regions follow.

Neil Carberry said:

“Jobseekers have the invaluable opportunity to gain work experience and demonstrate their skills to potential employers through internships, all without the pressure of committing to a specific career path. We strongly encourage employers to create meaningful internship roles and dedicate the necessary time and resources to consider taking more interns on and to give them quality experience. More financial support from the government could encourage some employers to increase the volume of opportunities that they offer to young people. By doing so, employers can cultivate a robust ladder of opportunity for young people who are new to the world of work, career returners or economically inactive – and spot and recruit top talent before their competitors do.”

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 September 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:

 

County/unitary authority	Unique active job postings, September 2024	Change in active job postings, August 2024 to September 2024
Scottish Borders	942	4.4%
North Ayrshire	1,417	0.8%
Bromley	1,101	0.4%
Dumfries and Galloway	1,653	-0.5%
Warrington	7,101	-0.6%
Glasgow City	21,815	-0.7%
Dudley	4,266	-0.9%
Hounslow and Richmond upon Thames	2,304	-1.1%
Brent	764	-1.3%
South Ayrshire	1,857	-1.4%
South Nottinghamshire	1,298	-14.7%
Causeway Coast and Glens	405	-16.5%
Cornwall and Isles of Scilly	7,034	-17.0%
East Lothian and Midlothian	2,618	-19.6%
East Dunbartonshire	523	-19.9%
Orkney Islands	313	-20.8%
Gwynedd	833	-20.8%
Mid Ulster	1,382	-20.9%
Fermanagh and Omagh	578	-24.4%
Powys	1,503	-24.8%

 

 

 

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

Occupation	Unique active job postings, September 2024	Change in active job postings, August 2024 to September 2024
Head Teachers and Principals	388	41.6%
School Midday and Crossing Patrol Occupations	344	25.5%
Authors, Writers and Translators	5,012	19.9%
Probation Officers	773	15.2%
Postal Workers, Mail Sorters, Messengers and Couriers	1,007	14.4%
Beauticians and Related Occupations	1,662	11.6%
Physical Scientists	763	9.3%
Shelf Fillers	3,032	9.2%
Newspaper, Periodical and Broadcast Editors	1,106	9.2%
Air Travel Assistants	319	8.1%
-
Nannies and Au Pairs	2,937	-20.5%
Counsellors	743	-20.7%
Physiotherapists	2,795	-21.0%
Newspaper and Periodical Broadcast Journalists and Reporters	443	-23.0%
Aircraft Pilots and Air Traffic Controllers	490	-23.3%
Photographers, Audio-visual and Broadcasting Equipment Operators	787	-25.8%
Undertakers, Mortuary and Crematorium Assistants	358	-30.2%
Air Transport Operatives	318	-31.8%
Driving Instructors	1,497	-38.1%
Childminders	370	-67.1%

 

 

 

Key indicator occupations

Occupation	Unique active job postings, September 2024	Change in active job postings, August 2024 to September 2024
Advertising and Marketing Associate Professionals	13,882	-9.3%
Bar Staff	8,016	-9.0%
Beauticians and Related Occupations	1,635	12.9%
Care Workers and Home Carers	45,966	-6.3%
Caretakers	1,850	1.8%
Carpenters and Joiners	5,507	-15.1%
Chartered and Certified Accountants	18,002	-10.5%
Chefs	19,410	-16.1%
Cleaners and Domestics	34,774	-7.4%
Delivery Operatives	357	-10.8%
Electricians and Electrical Fitters	8,533	-15.6%
Elementary Storage Occupations n.e.c.	357	-0.8%
Elementary Storage Supervisors	2,186	-9.3%
Finance and Investment Analysts and Advisers	14,606	-5.7%
Fitness and Wellbeing Instructors	2,581	-18.7%
Food, Drink and Tobacco Process Operatives	136	-11.7%
Hairdressers and Barbers	1,594	-0.4%
Large Goods Vehicle Drivers	21,258	-15.3%
Mechanical Engineers	14,411	-15.5%
Metal Working Production and Maintenance Fitters	10	-9.1%
Nursery Education Teaching Professionals	19	-13.6%
Other Registered Nursing Professionals	16,500	-20.5%
Primary Education Teaching Professionals	9,264	-19.4%
Programmers and Software Development Professionals	33,788	-5.4%
Property, Housing and Estate Managers	4,637	-12.2%
Registered Children's Nurses	818	-21.2%
Registered Community Nurses	1,684	-13.5%
Registered Mental Health Nurses	1,964	-14.0%
Registered Nurse Practitioners	7,617	-11.3%
Registered Specialist Nurses	3,366	-18.7%
Sales and Retail Assistants	21,202	1.9%
Secondary Education Teaching Professionals	21,140	-11.7%
Security Guards and Related Occupations	6,488	-13.5%
Solicitors and Lawyers	22,077	-4.4%
Sports Coaches, Instructors and Officials	3,715	-4.4%
Waiters and Waitresses	10,366	-0.8%
Warehouse Operatives	17,377	-5.3%