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Labour Market Tracker: Fewest new job adverts posted since mid-January as labour market stabilises

There were around 172,000 new job postings in the last week of March – 25% lower than the previous week and the lowest since mid-January

  • But there were still 1.83 million active job adverts in the UK last week
  • High demand for hairdressers and barbers, security occupations, bar staff
  • Notable increases in adverts for other skilled occupations like veterinarians and crane drivers
  • Five out of the UK’s top ten hiring hotspots were in Scotland last week, three in Northern Ireland
  • Local areas with the biggest decreases in job adverts were Hounslow and Richmond upon Thames, Nottingham, and Cambridgeshire

Growth in the number of job adverts across the UK has stabilised in recent weeks, according to the Recruitment & Employment Confederation (REC)’s latest Labour Market Tracker. There were around 1.83 million active job adverts in the UK in the week of 21-27 March. This total has remained relatively stable since early March

However, last week there was a significant drop in the number of new job adverts, with roughly 172,000 new postings in the UK. This was 25% lower than the previous week and the lowest of any week since mid-January.

Neil Carberry, Chief Executive of the REC, said:

“The jobs market has been super-heated in the first few months of this year, and was always likely to stabilise in the spring. We may be seeing the first signs of that now. Over the next few weeks, we will see whether this is the cooling we expected, or a slower market developing as employers factor rising inflation into their plans. It is good to see vacancy numbers continuing to recover in Scotland and Northern Ireland after later ending of restrictions, and likewise in the leisure and hospitality industries that were so restricted by COVID.

“Businesses are having to work harder than ever to hire the staff they need, but it is possible to hire if you get your offer right. Consulting with recruitment experts about your approach, including broadening your search, making job ads more attractive and offering enhanced flexibility and benefits can all help, without breaking the bank.”

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