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

Future Retirement Success

Business

UK job vacancies fall for eighth time in a row

by March 14, 2023
March 14, 2023
UK job vacancies fall for eighth time in a row

Job vacancies in the UK have fallen for the eighth time in a row as companies blamed economic pressures for holding back on hiring new staff.

The official figures come a day ahead of Wednesday’s Budget when the chancellor is expected to set out plans to encourage people back into work.

The number of jobs on offer between December and February fell by 51,000 compared with the three months before.

Despite the drop, the number of job vacancies remains high at 1.1 million.

There are also 328,000 more vacancies compared to the pre-pandemic period of between January and March 2020.

The rate of economic inactivity – people aged between 16 to 64 who are not in work and not seeking a job – dipped to 21.3% between November and January.

This was driven by younger people aged between 16 to 24 either getting jobs or looking for work.

However, there are still nine million economically inactive Britons who are not part of the workforce either because they are students, have retired or are suffering from long-term illness.

On Wednesday, it is anticipated that Chancellor Jeremy Hunt will detail how the government intends to entice people back into work. One measure expected to be announced is a boost to the amount that people can save for their pensions before it is taxed.

Danni Hewson, head of financial analysis at AJ Bell said this move was “an incredibly welcome start”, but added: “It does little to address labour issues at the lower end of end of the scale.”

James Reed, chairman of recruitment firm Reed, said that while there was a fall in new jobs “it’s not cause to panic”.

He told the BBC’s Today programme: “Actually there are over 300,000 more vacancies than there were this time pre-pandemic, three years ago, so the labour market is pretty buoyant still which is surprising many people.”

Robin Clevett, a self-employed carpenter and joiner who manages up to 10 subcontractors on construction projects, said that he was having to turn down work because there are not enough skilled workers available.

“Business is really buoyant at the moment,” he told the BBC. “Everyone needs trades – they need people to do insulation work, they need people to do new builds, refurbish old builds, replace cladding. There’s so much work but there’s not enough labour to go around so that’s what has driven this massive demand and adverts everywhere for all kinds of trades.”

He added: “I personally won’t take on work now knowing I’m not going to find the staff. So I’m turning down opportunities.”

Read more:
UK job vacancies fall for eighth time in a row

0
FacebookTwitterGoogle +Pinterest
previous post
Avoid Analysis Paralysis: Focus on the Important Trading Tools
next post
Recession avoided as UK steams ahead of Europe and US

You may also like

How to start an interior design business

August 27, 2022

5 Ways To Keep From Losing Your Computer...

August 8, 2022

Dragons’ Den star Sara Davies’ crafting firm rescued...

January 23, 2025

West Midlands residents revealed as the UK’s most...

January 26, 2025

UK firms well below EU average for tax...

November 28, 2022

Elon Musk unveils Twitter rebrand as X with...

July 24, 2023

Trump administration to review 55m US visa holders...

August 27, 2025

How Independent Casinos Succeed in the Crowded iGaming...

February 3, 2025

All You Need To Know About Cryptocurrency

November 11, 2022

Fantastic Gifts For Your Mum When You Cannot...

October 4, 2023

    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

    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025
    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025
    • Three Years of Sounding the Debt Alarm at Cato and on the Debt Dispatch

      August 27, 2025
    • Trump Administration Rightly Attacks EU Tech Regulations but Tariffs and Censorship at Home Harm Americans 

      August 27, 2025
    • White House demands all Gaza hostages return home ‘this week’ amid stalled talks

      August 27, 2025
    • Bankruptcy, Hell, and Exit Barriers

      August 27, 2025

    Categories

    • Business (8,897)
    • Investing (2,246)
    • Politics (16,502)
    • Stocks (3,228)
    • 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