Home Business NewsBusiness Hospitality and consultancy industries lead the UK’s push for a post-pandemic economic boom

Hospitality and consultancy industries lead the UK’s push for a post-pandemic economic boom

by LLB Editor
27th Aug 21 9:24 am

Research from Ezra, the leading provider of digital coaching, reveals which UK industries have proven themselves to be the most pandemic-proof in terms of overall profit, as well as which industries are now looking to expand the quickest as measured by the number of current job vacancies being advertised.

The pandemic has hit UK industry hard, but while many sectors have seen a radical decline in profitability and growth, there are some that have managed to remain strong throughout the global crisis.

At the top of the list of the ten most profitable pandemic beating industries is Banking having already generated £10.9 billion profit in 2021. In second place is the Legal Activities industry which has generated £7.7 billion profit in the 2021 so far.

Thanks largely to an increased reliance on remote working, the Computer Consultancy industry has also remained strong in the face of the pandemic, generating £6.5 billion profit so far this year while the two industries of Construction Contractors and Security & Commodity Contracts Brokerage round off the top five most-profitable UK industries having both generated 2021 profits of £5.8 billion.

These are the UK industries that have enjoyed the biggest profits in the time of pandemic but, with eyes firmly set on the future as the nation hopes to leave COVID-19 behind, Ezra’s research also reveals which of the UK’s ten largest industries are doing the most to push for a post-pandemic boom, something that can be measured by analysing the number of job vacancies currently being advertised.

After a disastrous pandemic, the hospitality industry has a lot of ground to make up and, according to the data, plans on doing so very quickly indeed. The UK’s Full-Service Restaurant sector currently employs just under half a million people spread across 42,000 businesses. Today, the sector is advertising more than 36,000 job vacancies which, once filled, will increase the overall workforce by 7.4%.

The Management Consultancy industry also has plans for rapid growth. With half a million people currently employed across more than 173,000 businesses, the industry is currently advertising nearly 31,000 job vacancies with a view to increase its workforce by 6.9%.

The construction industry, perhaps bolstered by an urgent need for new homes across the UK, is also planning to increase its workforce by 6.9%, adding more than 39,000 employees to the current workforce of 573,000.

Education providers have had a very difficult couple of years learning how to adapt to long-distance teaching, but moving forward, they still plan to expand the workforce. Universities are looking to add 9,141 new employees to increase the total workforce by 2.1%, and Secondary Education hopes to increase staffing by 2% by advertising 13,912 jobs.

The rest of the UK’s ten largest industries are all planning to increase workforces over the coming weeks and months with the Charity sector looking to grow by 1.8%, Hospitals by 1%, Temp Agencies by 0.9%, Supermarkets by 0.6%, and Direct Sales & Marketing by 0.2%.

Founder of Ezra, Nick Goldberg, commented:

“After a turbulent 18 months, UK industry is once again feeling optimistic as proven by the huge amount of jobs currently being advertised.

”It is, however, important to recognise that Brexit has reduced the workforce of many UK industries, not least healthcare, hospitality, and technology, so many of the jobs now being advertised will be done so in the hope of replacing staff who have been lost to other European nations, rather than scaling up.

“But even with this is mind, we’re entering a great time for job seekers with lots of new opportunities now being presented. But given how many people lost jobs during the pandemic, there is also going to be a lot of competition out there.

“Good careers coaching can teach you how to stand out above the crowd and then flourish at interview and beyond, mostly by giving you confidence in your own abilities, and the skill to communicate that competence in a way that attracts potential employers.”

 

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