Andrew Hunter, co-founder of Adzuna, comments: “A second monthly rise in unemployment signals that the jobs market recovery is shifting into a slower gear. The easy wins of the past two years, including existing skilled workers moving into appropriate positions, are now all but over. There are still many more jobs vacancies being created, but the problem is in finding enough talent to meet demand, particularly in areas like IT and Engineering. This means that unemployment improvements will move to a steadier pattern over the next year. More significant investment will be needed to maintain momentum, from upskilling the labour force – through schemes like apprenticeships – to the creation of more liquid roles to allow women in particular the flexibility they may need to rejoin the workforce while balancing other commitments with working.
“On the other hand, those settled into work are seeing their pay steadily increase, which is having a tangible effect especially while inflation remains low. Advertised salaries, however, have fallen to an eleven-month low, as recent increases in vacancies have been driven by lower-paid and part time positions.”