Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK businesses put the brakes on hiring

by November 28, 2022
November 28, 2022
UK businesses put the brakes on hiring

Many businesses have put hiring on hold as they consider cost-cutting solutions, with recent data revealing that vacancy numbers have dropped by 3% between September and October 2022, and 12% year-on-year.

That’s according to the latest data from the world’s largest network of job boards, Broadbean Technology.

Retail sector vacancies drop

When analysing Broadbean’s data by sector, it reveals that, during what is usually a very busy recruitment period for the retail sector in the run up to the festive season, vacancies dropped 15% month-on-month. With widespread reports of consumers reigning in spending due to the cost-of-living crisis, it’s perhaps easy to see why retailers, who usually ramp up hiring in the run up to Christmas, aren’t recruiting as many employees this year.

One of the only sectors reporting a monthly increase in vacancies was accounting, which saw an 8% uptick. The UK’s currently volatile financial landscape could explain the increase in demand for jobs in this sector, with firms turning to accountants in an attempt to balance the books and streamline costs.

Alex Fourlis, Managing Director at Broadbean Technology commented: “2022 has been an undeniably turbulent year for hiring. While we witnessed record-breaking levels of vacancies earlier in the year, the slowdown that followed was only to be expected. However, our data does suggest that the decline in vacancy numbers is being accelerated by the UK’s economic uncertainty and with the political turmoil that we have seen of late, it is clear to see why for some firms, recruitment has been put on hold. With the Chancellor’s Autumn Statement seeming to quieten some of the market disruption we’ve experienced recently, it’ll be interesting to see how this impacts hiring for the remainder of 2022.”

Read more:
UK businesses put the brakes on hiring

0
FacebookTwitterGoogle +Pinterest
previous post
Businesses need to upskill Gen Z and Alpha for the future of work
next post
The Complete Guide to Investment Opportunities for Young College Entrepreneurs

You may also like

How to Automatically Generate Captions: Simplifying Video Editing...

October 24, 2024

Health interventions for people who work hard and...

May 15, 2024

HMRC splashes £150m on digital skills and launches...

April 24, 2023

AI to boost UK economy by £400bn says...

July 5, 2023

Number of Landlords Selling Up in UK Grows...

August 15, 2023

Aston Martin hopes for share price boost after...

May 3, 2023

Investors rally behind chancellor Rachel Reeves’ growth agenda

July 7, 2024

Global economy faces bleak outlook as World Bank...

June 11, 2025

McLaren receives £80m finance injection from shareholders as...

November 27, 2023

A public inquiry has begun into London Luton...

September 27, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Congress Should Let the New Markets Tax Credit Expire

      June 23, 2025
    • Redundancy gone wrong: A case that reminds employers what not to do

      June 23, 2025
    • A Common Thread: Price Controls, Japanese Internment, and the Little Rock Nine

      June 23, 2025
    • Can Mail Ballots Be Lawfully Counted If Received After Election Day? Where the Law Stands

      June 23, 2025
    • ‘Mofo…in the White House’: Jasmine Crockett attacks Trump, praises Massie in anti-Iran strike rant

      June 23, 2025
    • Russia claims US strikes on Iran have opened a ‘Pandora’s box’ and could lead to global ‘nuclear catastrophe’

      June 23, 2025

    Categories

    • Business (8,287)
    • Investing (2,062)
    • Politics (15,756)
    • Stocks (3,162)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved