Tag: job posting

Recession concerns mount up 

Despite the US adding 528,000 jobs in July, The Conference Board’s Employment Trends Index saw a drop, showing signs of slower job gains ahead. The organization also showed concern about a possible recession.

July’s Employment Trends Index level of 117.63 dropped from June’s downwardly revised reading of 118.71.

It is thought that slower job gains are likely to bring the labour market in line with the rest of the economy, which Is already seeing a slowdown in activity. The Conference Board, however, expects the US unemployment rate to remain below 4.5% in 2023. It was 3.5% in July.

Frank Steemers, Senior Economist at The Conference Board, said: The Employment Trends Index declined in July and has now been on a downward trend since March 202. While the US labour market is currently still robust, the recent behaviour of the index signals that slower job gains should be expected over the next several months.”

“It is increasingly likely that the US economy will fall into recession by year end or early 2023, with the Fed expected to continue raising interest rates rapidly over the coming months.”

“While businesses are currently still struggling with severe labour shortages, they may soon see some reduced pressure in recruitment and retention difficulties as economic activity cools.”

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Decline causes GDP growth to take a tumble

According to research from the Association of Professional Staffing Companies (APSCo), job numbers in Northern Ireland were down by over 50% compared to March. This drop reflected a marked fall in GDP growth.

The data provided by Broadbean Technology showed that vacancy numbers decreased across all major industry sectors. The top five sectors, however, continued to generate the largest number of jobs in June, meaning that the ratios remained relatively stable month-on-month.

Across the different sectors, IT accounted for 20% of vacancies across Northern Ireland, followed by accountancy (14%), engineering (9%), admin & secretarial (8%), and building & construction (7%).

Application per vacancy (APV) rates remained stable in the IT sectors but decreased in manufacturing and production. The APV rate for contact centre & customer service professionals showed the biggest jump, increasing to 61 (compared to 35 in March). Logistics, distribution & supply chain showed the second-highest figure (20), but this was down on the 25 reported for March. Manufacturing & production (13) and admin & secretarial (10) increased to double digits, showing how critical Northern Ireland’s skills shortages have become.

The biggest job creator was County Antrim, with almost 13,000 vacancies in June, accounting for almost 7 in 10 Northern Ireland jobs. In this region, the largest numbers recorded were for IT and accountancy roles, even though the latest numbers for these specialisms were down by 53% and 42% compared to March.

Ann Swain, CEO of APSCo, commented: “Having initially experienced an impressive bounce back in 2021, in which output reached a 13-year high, the economy of Northern Ireland has started to cool with output likely to fall in the early part of 2023. In a post-Brexit and Covid-hit economy, the strength of Northern Ireland’s labour market will be paramount to the country’s economic recovery, and with this latest data indicating a fall in jobs, the country’s economic activity could soon feel the impact. If Northern Ireland’s economy hopes to bounce back stronger, greater support from the Government is needed to help make its employment market globally competitive and fit for purpose in the current economic landscape.”

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Jobs board focuses on roles at companies that ‘do good’

Last week member states of the Organisation for Economic Co-operation and Development (OECD) agreed on new plans to create more jobs in sustainable industries.

The new jobs website, Jobs For Good,  is aimed at people who want to find jobs in sustainability industries where they can make a social impact. There are already 1,200 roles live on the website.

According to PWC’s latest reports, one in five people are looking to change jobs, with 68% of these wanting a more fulfilling job. Further, with over 70% of millennials wanting employers with a strong environmental agenda and 10% of workers saying that they would take a pay cut to work at an environmentally responsible company, it’s clear that there is a growing demand for jobs in companies that are ‘for good’.

In the UK, the ‘impact industry’ is worth £50 billion, employs 35,000 people, and has grown 127% since 2018.

The new jobs board only features jobs in companies that “do good” in that they positively impact people or the planet and are run responsibly. These can be in areas such as renewable energy, food production, health and wellbeing solutions, etc.

On the site, job seekers can search by job type and impact area without needing to sign in. They can then read about the companies’ ‘do good’ credentials before applying for the job online.

Job sectors include IT, marketing, product, sales, and admin roles, and companies are vetted for their ‘For Good’ credentials before they can add jobs to the website.

Olivia Spaethe, CEO of Jobs For Good, commented:  ‘Originally we built Jobs For Good in response the ‘Great Resignation’ and people looking for more fulfilling roles in sustainable companies. We’re really encouraged to see the UK Government and OECD agreeing to invest and focus more on this area too. We’re here to plug an important gap between sustainable start-ups looking for new workers, and those workers looking for the right do-good company to work for.’

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UK region in every sector outstrips job postings for 2020

The latest reports from Reed.co.uk, have stated that over 3.3 million jobs were added onto its website in 2021 – that’s a whopping 1.5 million more than 2020 which equates to a year-on-year rise of 97%!

Reed.co.uk also reported a 25% increase in new jobs posted last year compared with 2019, when 2.7 million jobs were recorded before the start of the pandemic.

September saw the most amounts of job postings with 357,489 created which was an increase of 150% compared to 2020 and 60% compared to 2019.

Similarly in December which is month where job postings usually fall in the lead up to the holidays and new year recorded nearly  350,000 new live vacancies. December was the second most active month of 2021 and a 151% and 132% increase on 2020 and 2019’s figures respectively.

Job postings in every sector on Reed.co.uk were up year-on-year compared to 2020, with Customer Service (510%) and Transport & Logistics (337%) seeing the highest percentage increases, followed by Banking (305%), Strategy & Consultancy (255%), Hospitality & Catering (176%), Retail (170%) and Manufacturing (136%).

In terms of the number of new jobs created, Transport & Logistics was the most active sector in 2021 with 376,000 jobs posted, followed by Customer Service (338,954), IT & Telecoms (264,184), Education (256,301) and Health & Medicine (168,558).

Further evidence of a jobs boom was reported by Reed.co.uk through its regional analysis of job vacancies on the site. Every region across the UK saw job vacancies for last year outstrip 2020 and nearly all saw more jobs added than before the pandemic. South East England and London were the most active regions for job postings with both seeing over half a million new vacancies added last year, a 77% and 108% increase year-on-year, respectively.

Recent analysis of Reed.co.uk’s jobs data also suggests that the ongoing jobs boom will continue into 2022, with over 32,000 jobs live on the site in 24-hours on the first Tuesday of the new year – a new record.

James Reed, chairman of Reed Recruitment commented: “As we move into 2022, the momentum which has built up in the jobs market is showing no signs of slowing down either. It is now the best time in fifty years to look for a new job. In this newly established sellers’ market, jobseekers hold all the cards and should feel empowered to find new opportunities whether to explore different industries, improve work-life balance, increase wages or boost career prospects. I urge anyone thinking of switching career to explore the opportunities available to them.”

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