Labour Market Tracker: Signs of life in the jobs market as new job postings rise in October - REC

• There were 706,480 new job postings in October 2024 – a 4.8% increase from the month before. 

• The number of overall active job postings in October 2024 was 1,542,674 – a decrease of 0.6% on the number of job postings in September 2024. This continues a trend of moderation back to pre-pandemic levels and reflects the lower number of new jobs posted over the summer. 

• We outline the hiring trends in the health sector ahead of the peak winter period for the NHS. 

There were 706,480 new job postings in October 2024, according to the latest Recruitment & Employment Confederation (REC) and Lightcast Labour Market Tracker. This is an increase in new job postings of 4.8% as compared to September 2024. 

The number of overall active postings in October 2024 was 1,542,674. 

The most pressing demands for workers at the moment included Programmers and Software Development Professionals, Solicitors and Lawyers and Chartered and Certified Accountants. 

REC Chief Executive Neil Carberry said: 

“These numbers come from before the Budget, which was a challenging one for businesses when it comes to employment costs. But they do highlight the level of underlying resilience in our jobs market – if firms become more confident about the path of the economy they will invest in new products and jobs. The challenge now is for the Chancellor and the Bank of England to get behind businesses with more positive support for growth. That should start with making sure new laws, like the Employment Rights Bill, encourage firms to create jobs of all forms.”   

Employment experts in the staffing and talent industry believe that, if the current proposals for regulating agency work are inserted into the Employment Rights Bill, many thousands of jobseekers and workers will be put at risk by reducing the number of flexible jobs that are created. These roles will not be replaced by permanent hiring, but by more self-employment and lower overall job creation.  

With Christmas next month, it is encouraging to see thousands of vacancies for seasonal roles such as chefs, large goods vehicles delivery drivers, sales and retail assistants and warehouse operatives, in October. But Christmas hiring has changed in recent years as firms have become better at predicting demand.  

Neil Carberry said: 

“Employers have improved how they model Christmas hiring needs in the past few years, leading to a steadier, lower Christmas “peak”. Nevertheless, there are opportunities out there for anyone looking to add a bit more to the family Christmas fund. With household finances in a better state this year, consumer confidence at a five-year high and a predicted splurge of advertising spending, many firms will be looking to add staff in the final weeks.” 

The Advertising Association suggested that advertisers expect to spend a record £10.5 billion during the festive season this year and separately consumer confidence at a five-year high in third quarter of 2024, according to the Deloitte Consumer Tracker. 

Today’s Labour Market Tracker shows that Delivery Drivers and Couriers (78.7%), Postal Workers, Mail Sorters, Messengers and Couriers (53.2%) and Authors, Writers and Translators (31.6%) had the largest increase in the number of job postings in October. This is the second month in a row that the occupation of Authors, Writers and Translators has seen such a large increase. 

Beauticians and Related Occupations (-20.7%), Painters and Decorators (-21.8%) and Probation Officers (-38.6%) all showed the largest decline in roles from September to October 2024. 

Wandsworth (13.0%), East Dunbartonshire (11.6%) and Dumfries and Galloway (11.5%) showed the highest increase in job postings. 

Whereas Mid Ulster, once again had among the highest decline in job postings, showing a 13.3% reduction. Belfast (-20.8%) and Glasgow City (-9.9%) all accounted for the sharpest decline in job postings. 

Healthcare shortages 

In a survey last week, NHS Providers found most trust leaders (79%) were very worried or worried about whether their trusts have capacity to meet demand for services over the next 12 months. The broader findings show how years of squeezed funding, major workforce challenges and rising demand on hospitals and ambulance services have taken their toll. And separate analysis by the Royal College of Nursing (RCN) found that thousands of UK-educated nurses are walking away within 10 years of first registering. This is due to burnout and exhaustion brought on by the pressures of staff shortages, increasing patient need, and a lack of recognition evident in relatively low pay. 

Our job postings data shows the enduring recruitment challenges in some parts of health and social care as we head into a peak winter period for the NHS. There are more than 39,400 job postings for nurses, more than 10,000 for medical practitioners (doctors) and more than 47,400 job postings for care workers and home carers. Our data also shows: 

Comparing active job postings for pre-pandemic February 2020 to October 2024: 

• A more than 100% increase in active job postings for Pharmaceutical Technicians, Complementary Health Associate Professionals and Psychologists (other than clinical psychologists), and a 95% increase for Dispensing Opticians, 

• An 87% increase for Ambulance Staff (Excluding Paramedics). 

• A 56% increase for podiatrists, 43.5% increase for medical radiographers and 41% increase in speech and language therapists. 

• A 38% increase in active unique job postings for midwives in 2024 compared to pre-pandemic (February 2020), 31.5% increase for healthcare practice managers and 19% increase in occupational therapists. 

Neil Carberry said: 

"The significant shortage of workers in health and social care is troubling as we head into the winter months. The lack of staff in health and social care is not only hindering access to care but also delaying timely treatment and causing distress to patients and families. One contributing factor to the high economic inactivity rate is that many individuals are unable to return to work while they remain on NHS waiting lists. 

"The answer to this is long-term partnership between trusts, unions and staffing partners to increase the supply of trained, approved staff with a focus on good substantive employment practices and bank and agency services used proportionately and in a sustainable way, 

“Sadly, this government has not learned from the failings of the previous one on this. Banning agency staff might grab attention but it overlooks the deeper issues and fails to recognise bank staffing is usually more expensive for the NHS. Successive government actions have directly pushed up costs for temporary staff by capping the rates for low-cost on-framework agency shifts for years at levels that medical professionals are unwilling to accept. As a result, we’ve seen a surge in the use of much more costly emergency bank and off-framework agency workers.” 

Industries spotlight (September 2024 to October 2024) 

Retail 

The roles with the highest increase in job postings were Roundspersons and Van Salespersons (31.0%), Sales and Retail Assistants (11.5%) and Shelf Fillers (9.4%).  

Occupations with the biggest decreases in the number of job postings in this sector were Telephone Salespersons (-10.7%), Call and Contact Centre Occupations (-6.0%) and Sales Supervisors - Retail and Wholesale (-5.1%). 

Construction

The Construction sector overall saw an 4.5% decline in the number of job postings from September to October. Painters and Decorators (-21.8%) and Steel Erectors (-9.5%) had the steepest decline in the number of job postings.  

The highest increase in job postings was for Roofers, Roof Tilers and Slaters (12.0%) and Floorers and Wall Tilers (5.2%). 

Health and Social Care spotlight 

Within the health and social care industry, Psychotherapists and Cognitive Behaviour Therapists (15.3%), Podiatrists (13.6%) and Therapy Professionals n.e.c. (8.3%) showed the healthiest signs of growth.  

Whereas Dental Practitioners (-10.7%), Housing Officers (-12.0%) and Paramedics (17.6%) showed the weakest. 

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 October 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: 

1. 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. 

2. 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. 

3. 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. 

4. 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