Labour Market Tracker: Businesses unable to maximise trade this Christmas as vacancies run high

• The number of active postings in the week of 27 November - 3 December 2023 was 1,438,099, 7.7% higher than the previous week (20-26 November 2023), but 8.6% lower than the comparable week in the previous year (28 November – 4 December 2022).
• There were 186,329 new job postings in the week of 27 November - 3 December 2023 – 15.8% higher than the week before (20-26 November 2023), but 2.6% lower than the year before (28 November – 4 December 2022).
• Notable increases in adverts for physiotherapists (+21.1), midwives (+19.8) and occupational therapists (+18.8).
• No region saw a decline in new job adverts in the week of 27 November - 3 December 2023 as compared to the previous week (20-26 November 2023).

There are more than 1.4 million active job postings that need filling across the country, according to the Recruitment & Employment Confederation (REC) and Lightcast’s latest Labour Market Tracker.

Vacancy levels remained high, suggesting that demand is not slowing despite a sluggish at best economy. It also suggests that many businesses will be left frustrated at not having enough staff to maximise revenue this Christmas. The NHS will have to manage its workforce exceptionally well to overcome labour and skills shortages this winter.

REC Chief Executive Neil Carberry said:

“While the jobs market has slowed across 2023, today’s data emphasises again that activity levels on hiring are still high by historical standards. In particular, the slower economy this year has not reduced hiring as much as it would have in previous cycles due to low labour supply and skills shortages. This is a particular challenge for sectors that have been struggling to hire, from hospitality and engineering to health and social care. Today, we report on a combined near 70,000 vacancies for health and care workers as the NHS braces for a peak winter period.”

Neil Carberry added:

“Christmas is a time when many businesses make enough to keep them going for a large chunk of the new year. And although we have seen a rise in confidence among employers to invest and hire, that has not yet fed through into getting the tills ringing. This challenge is a worked example of the real risk of politicians not putting growth top of their Christmas list – without the right people, the economy is constrained, taxes remain high and public spending is lower, and we generate more inflation domestically. If politicians really want to wish business a happy New Year, they will put skills reform, a more sensible debate on immigration for work and its impact on growth, and an industrial strategy under the tree this Christmas.”

Occupations with notable increases in active job adverts in the week of 27 November – 3 December 2023 include physiotherapists (+21.1), midwives (+19.8) and occupational therapists (+18.8). Road construction operatives (+17.1), speech and language therapists (+16.8) and programmers and software development professionals (+15.5) also saw high growth.

Actors, entertainers and presenters (- 0.2), taxi and cab drivers and chauffeurs (+0.0) and Forestry workers (+0.6) saw the lowest growth in job adverts.

Across the UK, Gwynedd (+20.2), Scottish Borders (+15.4) and Redbridge and Waltham Forest (+14.7) all saw notable increases in job adverts. However, Fermanagh and Omagh (+1.4), Lisburn and Castlereagh (+1.8) and West Dunbartonshire (+2.4) accounted for the lowest growth in job adverts.

Once again, no region saw a decline in new job adverts in the week of 27 November – 3 December 2023 as compared to the previous week (20-26 November 2023).

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 27 November – 4 December 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.

Media enquiries

For more information and interview enquiries, contact the REC Press Office on 020 7009 2157 or pressoffice@rec.uk.com. Outside of regular office hours, please call 07702 568 829.

Click here to view all REC press releases.

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

​​​​​