Vacancies remain high despite a steady drop in hiring

The number of job postings remained steady throughout July and are still above pre-pandemic levels, finds a new report.

Overall active postings were up by 2.4% compared to June with most regions reporting growth over the last month.

The REC and Lightcast Labour Market Tracker found that childminders are the occupation with the highest increase in job postings (for the second consecutive month). This was followed by train and tram drivers and dental practitioners. 

REC Chief Executive Neil Carberry, said, “Vacancies remain high by historical standards, despite the steady cooling of hiring in the past year. This resilience reflects shortages in skill and labour in some sectors, and a growing optimism from firms about the end of the year, with economic growth up, the start of interest rate cuts and inflation considerably lower than a year ago.

“It is reassuring to see the areas in the top ten for vacancy growth in July spread across the UK and the increase in some roles in construction, finance and retail are encouraging given their status as bellwethers for the economy.”

Neil added, “Both the high number and wide spread of vacancies in today’s report is particularly beneficial for recent graduates and school leavers because they will aim to begin their careers this summer, as well as prove helpful for those re-entering the job market after a break.

“The government is right to make economic growth its focus. Only growth can turn employers’ sentiment to hire and invest, into action. That means creating the right conditions for a wide range of ways of working – matching the needs of both workers and the economy.

“The government’s plans to ‘Make Work Pay’ mustn’t inadvertently jeopardise access to temporary work by spooking employers. Uncertainty about what new employment rules might mean – or concern about their impact – needs to be answered by designing the rules with business.”

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