September Labour Market 2023: Sector Response
Sharp rise in young people outside education and work – close to 1.1 million, highest figure since first lockdown in 2020. The UK employment rate…
Labour Market Information (LMI) is information about what is happening in a labour market. LMI tends to focus on the industries that are growing and declining, the types and levels of jobs are increasing and decreasing and what supply of labour is available – numbers, skill and qualification levels.
Definition: A labour market is the place where workers and employees interact with each other. In this market, employers compete to hire the best, and the workers compete for the best satisfying job.
The most popular response to hiring difficulties has been to raise pay (44%). But employers may be reaching a limit on how much further they can go on pay: only 27% anticipate raising pay in future to address hard-to-fill vacancies. Encouragingly, employers are also looking to other means to tackle staffing challenges: 39% have focused on upskilling more existing staff and 38% have advertised more jobs as flexible. These are vital factors in improving job quality and will be increasingly important for employers as they wrestle with recruitment as well as retention.
Sharp rise in young people outside education and work – close to 1.1 million, highest figure since first lockdown in 2020. The UK employment rate…
Hadi Moussa, EMEA Managing Director at Coursera, explores why the fast-evolving labour market demands a shift in the nation’s approach to education to prepare learners…
The number of new job adverts this August has remained at a robust level each week, suggesting greater confidence among hiring companies than last summer,…
“Pay growth accelerates to end 18 month wage squeeze – but 15 year stagnation has left average earnings £230 a week lower than their pre-financial…
“If we want to get inflation down in the long run, we need urgent action to address labour shortages and skills needs” The UK employment…
Each month, we find our Top Three most popular articles on FE News. FE News Unwrapped proved popular, so we decided to continue this and keep…
As organisations across the country celebrate Employability Day – Friday 30 June – Elizabeth Taylor, ERSA Chief Executive, discusses the employment support landscape and what…
In April the Prime Minister restated his New Year’s pledge to make maths education up to 18 compulsory, this time announcing the establishment of an…
There are more than two million active job ads in the UK despite caution among employers, according to the Recruitment & Employment Confederation (REC) and…
Employment back to pre-pandemic levels but “clear signs that weak labour supply is holding back growth” The UK employment rate was estimated at 76.0% in February…
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