In June, the UK workforce found itself at a crossroads: whilst many businesses were starting to open again and lockdown measures were eased as the government tried to breathe life back into the economy, some still found themselves in a position where they were unable to return to work. Amidst this, there have been mixed feelings and uncertainties amongst recruiters for what lies ahead.
To help add some clarity, here are some news stories from the past month.
End of furlough nears
For many small businesses, the Coronavirus Job Retention Scheme was an invaluable lifeline. In May, Sunak announced that this would be extended until October, but that employers were expected to contribute, leaving the future uncertain for many and that the scheme would close to new applicants on 30th June.
In response to this message, we’re proud to announce that we will be continuing to pay our employees’ furlough until October. Read the announcement from our CEO here to find out more.
Jobs Recovery Tracker shows demand rise in key sectors
The latest Jobs Recovery Tracker by REC (Recruitment and Employment Federation) shows that the number of job adverts for positions continued to rise throughout June and by the last week, there were 990,000 unique active job postings, up from 963,000 in the first week.
The largest increase in roles has been in the hospitality industry in London, possibly as a response to pubs and restaurants gearing up to reopen again. Other industries which saw an increase include construction, with an increase of over 30% in job postings, school support roles (almost 10%) and hairdressers and barbers (2.1%). Overall, however, the number of job postings is low compared to levels before lockdown.
Neil Carberry, Chief Executive of the REC, commented the following:
“The effects of easing the lockdown are clearly reflected in jobs postings data. While many hospitality and construction firms will start by taking staff off furlough, the market for new jobs in these sectors is starting to improve from the record lows of the past few months”.
Young people’s job confidence down
LinkedIn’s recent Workforce Confidence Index surveyed 3,000 professionals and revealed that Millennials and Generation Z are suffering from a lack of confidence in finding or retaining a job at present. Their confidence had fallen by 18% in the space of two weeks, whereas baby boomers were reportedly more confident, with an increase in 15% over the same period.
When dissecting the information per industry, healthcare, construction and manufacturing showed some of the highest levels of confidence, whilst travel, media and education were amongst the lowest. This could be telling of the economy as a whole and how workers in these sectors feel about their prospects currently.
More than half of recruiters believe economy will pick up by the end of 2020
A study conducted by Bullhorn has found that recruiters are largely optimistic about the economy, post COVID-19, as their businesses are doing the same or better than this time last year. Almost one third (30%) of recruiters surveyed reported that their business is doing better than this time last year, especially those who work with healthcare and IT professionals. In addition, 56% are optimistic for the future.
Perhaps one of the reasons for this confidence amongst agencies is due to a change in working practices: almost all those surveyed revealed that they had moved to video conferencing, reflecting an emphasis on flexible communication. When looking to the future, 64% expect remote working to become more common post-COVID-19 and almost 60% believe that contactless recruiting for roles will become the norm as businesses have settled into the home-working routine.
With you all the way
Though the future may still be uncertain, the one thing which remains unchanged is our devotion to our employees and agency partners. If you’re looking for support, visit our recruiter hub to find out how we can help you and your business.