Labour Market Tracker: Job adverts remain at high levels despite inflation concerns - REC

 

•  There were 205,947 new job postings in the week of 6-12 Mar 2023 – 1.5% higher compared to the week before (27 Feb-5 Mar).
•  The number of active postings in the week of 6-12 Mar is 1,447,095 – a 5% increase compared to the previous week (30 Jan-5 Feb). The figure has remained around or above 1.4 million since January 2022, indicating stability in the market.
• Notable increases in adverts for jobs in the education and construction sectors, including clergy (+17.6%), plasterers (+13.6%), secondary education teaching professionals (+12.6%), production managers and directors in construction (+11.7%), and scaffolders, stagers and riggers (+11.5%).
• Three out of the UK’s top ten hiring hotspots in the week of 6-12 Mar were in London: Lambeth (+12.8%), Redbridge and Waltham Forest (+9.9%), Lewisham and Southwark (+9.8%).
• Three out of the UK’s bottom ten hiring hotspots in the week of 6-12 Mar were in Wales: Bridgend and Neath Port Talbot (+0.5%), Monmouthshire and Newport (+0.3%), Powys (-0.3%).

 

There were 205,947 new job postings in the week of 6-12 Mar 2023 – 1.5% higher compared to the week before (27 Feb-5 Mar), according to the Recruitment & Employment Confederation (REC) and Lightcast’s latest Labour Market Tracker.

There has been a 5% increase in the number of active postings in the week of 6-12 Mar compared to the previous week, with 1,447,095 active job adverts. The figure has remained stable around and above 1.4 million since January 2022, reflecting the high demand from employers.

Neil Carberry, Chief Executive of the REC, said:

“This new job ads data shows stability in employer demand for staff. The labour market is not surging, as it did for much of 2022, but it remains a good time to be looking for a job. Firms still need to hire and there are plenty of opportunities out there.

“There is nothing in this data that suggests that labour and skills shortages are going away soon, so companies need to adapt their hiring plans to match that. A focus on reaching into different communities, skill development and staff engagement is likely to pay off. Across the country, the best firms are working with their recruiters on this.

“There is much the Government can do too. The Budget started to focus in the right areas on childcare and support to work, but there is a lot to do if these plans are to really make a difference. And the Budget got an F from business on skills – the current system in England actively discourages employer investment and it needs to change.

“A double-digit percentage rise in the past few weeks to nearly 40,000 nursery, primary and secondary job vacancies shows the scale of the issues with pay, workload and conditions of service among teachers. Schools are increasingly struggling to hire as the impact of several years of below-target initial recruitment plays out.”

Elena Magrini, Head of Global Research, Lightcast, said:

“The number of new online postings has stabilised in recent weeks. Compared to the fast growth seen in 2021 and the first half of 2022, the line is flattening. This shows that recruitment activity is no longer growing, which could be an early indication of the labour market cooling. However, the fact that the market is cooling and not declining in times of such uncertainty and high inflation suggests that the current economic outlook has not yet impacted negatively recruitment activity.”

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Occupations with notable increases in job adverts in the week of 6-12 Mar 2023 include clergy (+17.6%), plasterers (+13.6%), financial and accounting technicians (+12.9%), archivists and curators (+12.6%), secondary education teaching professionals (+12.6%), production managers and directors in construction (+11.7%), and scaffolders, stagers and riggers (+11.5%).

On the other hand, postal workers, mail sorters, messengers and couriers (-12.3%), roundspersons and van salespersons (-6.2%), precision instrument makers and repairer (-0.2%), telecommunications engineers (+0.1%), and dental nurses  (+0.4%) saw the biggest weekly decline or slowest growth in job adverts.

On regions, Gwynedd (+13%), Lambeth (+12.8%), Berkshire (+11%), Highland (+11%), and Belfast (+10.5%) saw notable increases in job adverts.

At the other end of the scale, North Lanarkshire (-8.8%) saw the largest decline in job adverts, followed by Torbay (-2.7%), Isle of Wight (-1.7%), Northumberland (-1.5%), and Inverclyde, East Renfrewshire and Renfrewshire (-1.4%).

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 6-12 March 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.

3. Clergy is in the Activities of Religious Organisations sector.

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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:

County/unitary authority	Unique active job postings, 6-12 March	Change in active job postings, 27 February-5 March to 6-12 March
Gwynedd	723	13.0%
Lambeth	804	12.8%
Berkshire	36,972	11.0%
Highland	3,675	11.0%
Belfast	11,816	10.5%
Scottish Borders	697	10.3%
Redbridge and Waltham Forest	1,384	9.9%
Lewisham and Southwark	1,901	9.8%
Cambridgeshire CC	22,450	9.8%
Swindon	6,574	9.6%
-
North Yorkshire CC	9,217	0.8%
Bath and North East Somerset, North Somerset and South Gloucestershire	9,638	0.7%
Bridgend and Neath Port Talbot	2,765	0.5%
Monmouthshire and Newport	5,152	0.3%
Powys	1,230	-0.3%
Inverclyde, East Renfrewshire and Renfrewshire	3,076	-1.4%
Northumberland	3,003	-1.5%
Isle of Wight	906	-1.7%
Torbay	1,462	-2.7%
North Lanarkshire	2,683	-8.8%

 

 

Top ten and bottom ten occupations by growth in job postings:

Occupation	Unique active job postings, 6-12 March	Change in active job postings, 27 February-5 March to 6-12 March
Clergy	796	17.6%
Plasterers	477	13.6%
Financial and accounting technicians	342	12.9%
Archivists and curators	429	12.6%
Secondary education teaching professionals	19,401	12.6%
Production managers and directors in construction	6,364	11.7%
Scaffolders, stagers and riggers	680	11.5%
Routine inspectors and testers	545	11.5%
Primary and nursery education teaching professionals	18,537	11.1%
Electrical and electronics technicians	1,297	10.5%
-
Groundsmen and greenkeepers	363	1.4%
Elementary cleaning occupations n.e.c.	528	1.3%
Veterinary nurses	1,307	1.1%
Midwives	1,453	1.0%
Prison service officers (below principal officer)	2,018	0.8%
Dental nurses	1,472	0.4%
Telecommunications engineers	2,165	0.1%
Precision instrument makers and repairers	472	-0.2%
Roundspersons and van salespersons	380	-6.2%
Postal workers, mail sorters, messengers and couriers	521	-12.3%

 

 

Key indicator occupations

Occupation	Unique active job postings, 6-12 March	Change in active job postings, 27 February-5 March to 6-12 March
Secondary education teaching professionals	19,401	12.6%
Primary and nursery education teaching professionals	18,537	11.1%
Electricians and electrical fitters	8,682	10.1%
Mechanical engineers	11,044	9.5%
Property, housing and estate managers	7,133	8.2%
Sports coaches, instructors and officials	5,754	7.6%
Large goods vehicle drivers	8,104	7.3%
Beauticians and related occupations	1,167	7.2%
Carpenters and joiners	4,887	7.1%
Chartered and certified accountants	26,898	6.4%
Programmers and software development professionals	52,838	5.2%
Finance and investment analysts and advisers	14,665	5.1%
Metal working production and maintenance fitters	5,509	5.0%
Sales and retail assistants	16,076	4.7%
Solicitors	21,580	4.6%
Chefs	16,616	4.4%
Elementary storage occupations	16,309	3.6%
Nurses	50,460	2.6%
Waiters and waitresses	8,663	2.4%
Care workers and home carers	57,295	2.1%
Cleaners and domestics	26,156	2.1%