According to a key labour-market indicator, the volume of job listings in November indicates that the recruitment market remains healthy.
The Recruitment and Employment Confederation based its conclusion on the latest results of the REC/Lightcast Labour Market Tracker.
In November 2024, there were 1,500.910 active job listings. The REC said that although this was a drop of 2.8% from the number of jobs posted in October 2024 it continued the trend of moderation to pre-pandemic level.
As the country prepares for the busy holiday season, the organisation found that many employers are eager to hire. Around 100,000 job posts were posted in the sectors of hospitality, driving, logistics, and retail.
Neil Carberry, chief executive of REC, said: “Today’s figures highlight the size and relative health of the UK labour market.”
He said that employers are concerned about the potential costs of the Budget and Employment Rights Bill if they are poorly implemented. “But the economy is larger than policy and the relative strength of household balance sheet and growing confidence in employers’ own businesses can tip the scales the other way.”
He said that with political stability and low inflation, the businesses were well-positioned for next year’s jobs market. They could also trade more confidently.
Carberry said that employers improved their planning to meet workforce needs in recent years, which resulted in a lower and longer spike in recruitment during the Christmas season. Companies, for instance, extended temporary contracts instead of hitting the job market at the end of the year.
According to the REC’s latest status report on recruitment, in 2023 1,058,300 temporary and contract workers will be on assignment at any given time in the UK.
The increase in postings of jobs was most noticeable for delivery drivers and messengers (101%).
London had four of the top ten counties with the largest increase in job postings: Wandsworth (13%); Haringey & Islington (12.6%); Hackney & Newham (4.6%); et Ealing (4.5%). London, as a whole, saw an overall decline of 1.9% in job postings despite pockets of growth.
Carberry said that overall, the hiring for Christmas this year was lower than it was last year. Carberry said that the economy was challenging, but also showed how employers were better able to predict staffing needs before Christmas.
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