Labour Market Analysis – May

At YEUK we think that by understanding the labour market young people can be helped to make an informed choice about the qualifications or pathways they choose. 
Young people should be asking themselves:
  • Is the number of jobs available in the sector they are interested in increasing?Rec
  • Will those sectors still be recruiting when they qualify?
  • Which sectors are recruiting?
  • Where are the skills gaps?

The REC Labour Market Analysis offers up to date recruitment information to answer these questions.

The Recruitment and Employment Confederation (REC) is the professional body for the recruitment sector AND a supporter and member of YEUK.

The Report on Jobs is a monthly publication produced by Markit and sponsored by the Recruitment and Employment Confederation and KPMG LLP.

Key points from the report in summery

  • Growth of permanent placements eases, but remains marked overall
  • Temp billings rise at faster pace
  • Permanent salary growth remains strong

Commenting on the latest survey results, Bernard Brown, Partner at KPMG, said:
“The UK job market saw a slight slowdown in May, as those on boards took time to digest the election result and work out the ramifications for their business. This pause did not dampen temporary staff placements, and temp billings rose for a twenty-fifth consecutive month.
“Growth in the services sector continued to outpace that of Britain’s heavy industries, with the former seeing a significantly stronger appetite for new hires to keep up with the volume of new orders coming in. These statistics will add more weight to the fears that the economy is not rebalancing as hoped, and are a worrying reminder of the recovery’s reliance on the performance of the white collar service sector.
“While elements of the private sector are thriving, the public sector continues to suffer, with pay growth rising by just 0.2% in the last reported quarter. This stagnation is in stark contrast with the pay awards seen in Britain’s businesses, whose staff saw average rises of 2.4%, driven by the booming service sector. With the Government’s continued focus on austerity, this imbalance is unlikely to be readdressed in the near future.”

 

Sectors recruiting the highest number of permanent  staff Sectors recruiting the highest number of temporary staff
  1. Executive/Professional
  2. Accounting/Financial
  3. IT & Computing
  4. Enginering
  5. Secretarial/Clerical
  6. Nursing/Medical/Care
  7. Blue Collar
  8. Hotel & Catering
  9. Construction
  1. Nursing/Medical/Care
  2. Secretarial/Clerical
  3. Blue Collar
  4. Accounting/Financial
  5. Executive/Professional
  6. IT & Computing
  7. Hotel & Catering
  8. Engineering
  9. Construction

Key permanent staff skills reported in short supply:

Accountancy/Financial: Accountants, Audit, Compliance, Credit, Finance, Risk.

Blue Collar: Drivers, Manual Workers.

Construction: Quantity Surveyors.

Engineering: Automotive, CAD, Electrical, Engineers, Technicians, Toolmakers.

Executive/Professional: Bid Writers, Executives, HR, Management, Marketing, Paralegals, PR.

Hotels/Catering: Chefs.

IT/Computing: Business Analysts, Cloud, Developers, Digital Marketing, Infrastructure, Java, .Net, Oracle, Software Engineers, Testers.

Nursing/Medical/Care: Care Workers, Doctors, Nurses.

Secretarial/Clerical: Office. Other: Creative Designers, Sales, Supply Chain, Teachers.

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As experts on youth employment and co-founders of the Youth Employment Group, we are ideally placed to understand the complex landscape facing young people, employers and policy makers.