Companies 'battling for talent' as job vacancies rise
Competition for top talent is increasing across the UK, as the number of job vacancies continues to rise, according to new stats.
The five weeks to the end of August saw the highest volume of new jobs since mid-December last year, with a total of 1.66 million job adverts currently live across the UK.
This has created high levels of demand for talent in many industries and has led companies to 'battle' for the best available candidates.
The figures from the Recruitment & Employment Confederation (REC)'s latest Jobs Recovery Tracker show that 193,000 new job adverts were posted in the week up to 29th August, with weekly postings remaining consistently high since early June.
Six out of the top ten 'hiring hotspots' during the week were in Scotland, while Northern Ireland accounted for six of the bottom ten areas for job growth. The biggest weekly fall in job postings was in Sunderland, which saw a 21.6 per cent dip.
Neil Carberry, Chief Executive of the REC, said: "Demand for workers remains very high across the economy and shows no signs of weakening. With businesses in the particularly squeezed food, logistics and hospitality sectors starting to gear up for Christmas, the months ahead could be difficult – even with a large number of people coming off furlough in August and September.
"It is worth remembering that some of this could be short-term. Large numbers of people are finding new work post-pandemic as the economy reshapes. But that realignment will take time, and there is good evidence to suggest that the market will remain tight for some years to come, even if the current crisis passes.
"Hiring businesses need to assess their workforce plans and work out how they are going to attract and retain the staff they need in the coming months and years. Recruitment businesses are best placed to help with this, as experts in the field. But employers also need government to work with them in a practical, co-operative way on skills, unemployment and immigration changes in order to get through this crisis."
Elsewhere, a report from the Airlines Reporting Corp (ARC) showed that US airline ticket sales have topped the $4 billion mark for the second month in a row.
A total of 16.8 million US flights were booked through travel agents in July, which was more than three times the number sold in July 2020 (5.1 million).
The total comprised 12.1 million domestic trips and 4.7 million international departures.
By Owen Mckeon