Labour Market Tracker: New job adverts suggest good demand in the labour market despite growth headwinds - REC

• There were nearly 180,000 new job postings in the week of 11-17 September 2023 – 4% higher than the week before (4-10 September 2023), and 13.5% higher than the same period in 2022, when the economy was affected by the period of national mourning after the death of Her Majesty the Queen.
• Looking across the summer, there is some evidence of a minor slowing in the rate of new job postings, reflecting other vacancy data.
• The number of active postings in the week of 11-17 September 2023 was nearly 3 million.
• No government office region saw a decline in job adverts in the week of 11-17 September 2023 as compared to the previous week (4-10 September 2023).
•  Notable increases in adverts for roles that typically have a hiring peak in September. such as horticultural trades (+16.9), school midday and crossing patrol occupations (+15%) and welfare professionals (+11.5%).

There is evidence of a slowing in new vacancies as weekly job postings no longer reach post-pandemic weekly highs of above 200,000, according to the Recruitment & Employment Confederation (REC) and Lightcast’s latest Labour Market Tracker. By historical standards, however, activity remains good.

The number of active postings in the week of 11-17 September 2023 was 2,967,950– a 5.6% increase compared to the previous week (4-10 September 2023). This was 111.9% higher than the year before (12-18 September 2022) but this is because job postings are staying online for longer driven by shortages in some sectors, and longer decision-making processes from employers in others. The comparable period in 2022 was affected by the period of national mourning which led up to the state funeral of Her Majesty Queen Elizabeth II.

There were 174,954 new job postings in the week of 11-17 September 2023 – 4% higher than the week before (4-10 September 2023) and 13.5% higher than the year before (12-18 September 2022. New job postings have remained below 200,000 since mid-June 2023, reflecting a general fall back in vacancies as reported by the REC’s Report on Jobs and official ONS figures.

Neil Carberry, Chief Executive of the REC, said:

“Recruiters across the country tell me that the market has normalised over the past few months, falling back from the all-time highs that were driven by opening the economy after the pandemic. While employers are facing significant headwinds from inflation and low growth, that is no surprise. But firms still need to hire, as these figures show.

“There is a big sectoral difference in employer behaviour right now. In some – like hospitality – demand for staff is still high and advert growth is being driven by it. With a combined 155,000 active job postings for nursery, primary and secondary teaching professionals and nurses, we see the same trend in parts of the public sector. Wise clients are taking a longer-term view of their hiring plans and working with their agencies to explore new approaches and sustainable supply – a lesson the NHS would do well to learn.

“In other sectors, a slower market has led to clients waiting a little longer for the right candidate. Job postings have stayed live as firms try to find the perfect candidate. Businesses need to remember that the labour market is tighter than we have known for decades and long processes mean losing candidates. Agencies are well placed to help firms run processes that reach the right candidate quickly.

​​​​​​​“In the longer-term, we need to get growth going to support a high level of hiring. Businesses want to see a strong industrial strategy that takes action on things like the failing Apprenticeship Levy and the slow and expensive visa system. Across skills, welfare to work, infrastructure, mobility and taxation, a coherent, calming and confidence-boosting long-term plan that actually changes things for businesses day-to-day is overdue. Firms will be looking to the Chancellor to deliver this at the Autumn Statement.”

Occupations with notable increases in job adverts in the week of 11-17 September 2023 compared to the previous week (4-10 September 2023) include horticultural trades (+16.9), school midday and crossing patrol occupations (+15%), and welfare professionals (+11.5%). Sports players (+10.8%), shopkeepers and proprietors - wholesale and retail (+10.3%), and plastics process operatives (+9.7%) roles also saw high growth.

Driving instructors (-18.9%), legal professionals (0%), animal care services occupations (0.5%), bus and coach drivers (+1.4%), and publicans and managers of licensed premises (+2.4%) saw the lowest growth in job adverts. The last of these represents a further rise on already very high demand.

Across the UK, Na h-Eileanan Siar (+14.4), Shetland Islands (+13.2), Dumfries and Galloway (+8.4), Haringey and Islington (+7.4%), and East Dunbartonshire (+7.3%) saw notable increases in job adverts. No region saw a decline in job adverts in the week of 11-17 September 2023 as compared to the previous week 4-10 September 2023.

Causeway Coast and Glens (+0.6), Isle of Anglesey (+1.2), Antrim and Newtownabbey (+2.4), Mid and East Antrim (+2.7%), and Enfield (+3.1%) accounted for the lowest growth in job adverts.

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 between 11-17 September 2023. 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.

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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