Jobs Market Remains Resilient Despite an Inconsistent Economy.
We will look back on this time with curiosity post-pandemic when future economists tell their children’s children about a time when there was a 15% rise in GDP (Gross Domestic Product). They will also remember the quarter before when there was a massive 19.8% drop inconsistency, however, this is not a common occurrence and for that we are grateful.
While it’s fair to say that our economy has been erratic recently, there are some positive elements to take from the pandemic. For one, the job market itself has remained fairly resilient.
Despite the fact that official unemployment figures have risen by 4.8%, which represents a total of 1,620,000 individuals, peak unemployment records are predicted to be lower than that of previous recessions Britain has endured. This may be attributed to Britain’s ‘flexible’ job market; particularly when compared to its European counterparts. To put this into perspective, unemployment in the UK peaked at 11.9% throughout the 1980s, 10.7% in 1990’s and 8.4% in 2010 following the financial crash.
So why the optimism regarding Job Market Resilience?
It’s true the news surrounding the 95% ‘effective’ vaccine has had a huge impact on businesses’ confidence, which, combined with the UK’s flexible labour market, is reassuring signs that a bounce-back post-Covid-19 will see Recruitment levels recuperate quicker than other decades.
Other examples of the resilience of the job market are the number of jobs currently being advertised. The ONS showed a 146,000 vacancy rise during August-October, and CV-Library found that job postings in this 2nd English Lockdown (November 2020) were 88% up on the levels of job vacancies advertised in March 2020.
More businesses are learning to work differently and are now recruiting remotely, interviewing virtually, and onboarding new employees without meeting them. Some say the “new normal?”
At Langley James, we have experienced a steady and increasing flow of vacancies since June, despite local and national lockdowns. Indeed, savvy employers are aware this is a good time to find new blood for the IT projects.
IT professionals are also keen to see what opportunities are out there without jeopardising their current job security. They will contact us to discuss what roles we have and may not necessarily always apply for IT roles in the traditional manner.
In summary, despite the current spike in unemployment, good candidates, especially highly skilled IT candidates, are not necessarily easy to find. Advertise your role directly and you will be inundated with responses, and most likely not the candidates that you are looking for. As an established IT Recruitment Agency, Langley James can find you your next employee that may not be responding to adverts.
Langley James specialises in IT Recruitment throughout the UK our specialist teams cover IT Infrastructure, IT Development, IT Contracting roles, Cybersecurity, Data Analysts, IT Managers, IT CIO’s and IT CITO’s contact Langley James to deliver your next IT vacancy or IT Contract Recruitment Vacancy. We can help you to recruit someone worth recruiting.