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End of furlough scheme impacts job vacancies

by LLB Reporter
14th Sep 20 10:35 am

Vacancy numbers across the UK dropped 6% week on week at the beginning of September, with applications per vacancy higher year on year as the job retention scheme begins to wind down. That’s according to the latest real-time statistics from the world’s largest network of job boards, Broadbean Technology.

Skills shortages fuelling recruitment

Across the sectors, only two areas bucked the trend and reported an increase in jobs week on week. Education & training and ICT vacancies reported a 12% and 3% increase respectively for the week ending 6th September. This is indicative of the continued struggle to source teaching professionals as schools reopen. With the on-going preference for remote working, the demand for ICT experts to manage and update IT systems and infrastructure has remained consistent since lockdown was first announced, a trend that looks set to continue.

Job applications set to spike

Broadbean Technology’s data also revealed that the number of applications per vacancy were up 20% year on year last month. Despite this annual increase, month on month this figure dropped 31% between July and August. While this is encouraging, it is likely a seasonal lull in job hunting and it’s expected that September will see a sharp increase in applications as the job retention scheme nears its end.

Alex Fourlis, Managing Director at Broadbean Technology said, “The summer months tend to see a drop in the number of people applying for a new job as holidays stall candidate applications. Our data suggests that despite the crisis that we’re experiencing, this trend has continued in 2020.

“However, with the furlough scheme winding down and employers contributing more to the salaries of furloughed staff, we’re predicting that an increase in job losses will soon create an uptick in the number of people applying for each vacancy.”

“While the drop in vacancy numbers overall is something to keep an eye on, it too is a possible result of the holiday slump in hiring activity. The demand for education professionals, however, is a recurring trend that we’ve seen since before lockdown began, and with growing reports of teachers isolating already due to increased cases of the virus, education institutions will only continue to struggle to source staff in the coming months.”

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