Of the new APSCo labour data, Tania Bowers, Global Public Policy Director at the Association of Professional Staffing Companies (APSCo), said:
“There may be lingering questions around the Labour Force Survey statistics that mean the latest figures around self-employment may need to be revised, but the data does paint a similar picture of falling vacancies in the UK.
“However, it’s important to stress that this doesn’t mean the labour market is concerned.
“If we look at the broader picture, jobs remain above pre-pandemic levels.
“When we look at sector declines, vacancies have fallen most in human health, social work, and professional, scientific, and technical activities – all areas experiencing long-standing skills shortages.
“With employers already struggling to source the required resources, they are unlikely to add more jobs, which will impact these statistics.
“This is further reflected in the number of jobs in the UK, which continued to grow in the revised data for September.
“This suggests that work is readily available nationwide, but a lack of resources impacts vacancies.
“This will only increase the demand for self-employed and specialist contractors who can often take on multiple roles simultaneously.
“It’s critical that this recognition is reflected in policy decisions in the New Year – particularly with the economic inactivity rate for those aged between 16 and 64 remaining unchanged in the latest statistics (20.9%).
“The UK needs to provide greater support and allowance to the self-employed and those that recruit them to encourage wider availability and use of these flexible resources.
“That includes revising the Apprenticeship Levy scope so that it is accessible to the self-employed to bolster the country’s skills.
“We also stand firmly by our recent calls to the Government to review business visas to help mitigate against the impact of skills shortages.”
New APSCo labour data: Astute’s view
Matt Dickens, Sales Director at Astute, said, “Amid the traditional year-end recruitment slowdown, our observations within the Power, Renewable, and Nuclear energy sectors, reveal a sustained surge in activity, defying seasonal norms.
“The ongoing skills shortage, particularly evident in technical recruitment, has intensified demand for specialists.
“As a result, Astute’s contract recruitment team has taken numerous opportunities to market as businesses seek to address skills gaps.
“My advice to businesses seeking talent is to act proactively, delaying your recruitment strategies due to it being the festive period risks losing top talent, something which is exacerbated by counteroffers from organisations keen to retain their best assets.
“One of the best ways to mitigate the talent shortages, whichever sector you are in, is to partner with a specialist recruitment agency that is able to offer a variety of solutions to talent challenges and, from what we are already witnessing at Astute, January 2024 will be an exceptionally busy time for recruiters.”
