In the last week of July there were 1.85 million job adverts in the UK (According to the Recruitment & Employment Confederation (REC)’s latest Labour Market Tracker), which, on the surface sounds great, however it’s exposing a bigger issue as labour shortages reach record levels.
Potentially costing the economy 30 billion a year, this shortage of labour is stifling any of the growth we need to fight our way out of this inflationary recession we are fast approaching.
Considering week to week the numbers of new postings are staying relatively stable at between 180,000 and 200,000 there’s a definite dam sitting between labour demand, and labour fulfilment.
Whilst it’s been highlighted that the shortage is really affecting growth in STEM roles, there’s also a shortage in everything from Telecoms to hospitality and driving.
Whilst economy confidence is at an all time low, it’s very clear that there has never been a stronger market for the workforce, as employers struggle against both a rise in costs and a lack of labour.
So as always, the best way to navigate this uncertain time, is to choose the right navigator, and that’s by seeking professional recruitment help, specifically, sector expert recruiters.
If you are looking for a new career in Telecoms or it feels like the right time time for your next move, we can help you today.
Tel: 0330 113 0032