What lies beyond Employability Day?
As organisations across the country celebrate Employability Day – Friday 30 June – Elizabeth Taylor, ERSA Chief Executive, discusses the employment support landscape and what…
labour market
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.
Every month, ONS releases information and statistics about the labour market.
Recruitment intentions are above pre-pandemic levels and appear to be on an upward trajectory. Almost three-quarters (74%) of employers say they are planning to take on new staff in the next three months. But as expected, recruitment difficulties remain, with 45% saying they have hard-to-fill vacancies.
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.
The issues swirling round delivery of the PM’s post-16 maths plan
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…
Active job postings above two million despite economic uncertainty – REC
There are more than two million active job ads in the UK despite caution among employers, according to the Recruitment & Employment Confederation (REC) and…
June Labour Market 2023- Sector Response
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…
Urgent action needed to prevent skills shortages and potential impact on the economy and employment
Essential employment skills required by employers now are set to become even more important in the future, according to a new report. The report says…
Working for better work: Prioritising employers
In this article, Elizabeth Taylor shares her takeaways from recent analysis of employers navigating Universal Credit. Supporting, challenging and protecting employers is critical to the…
How Many Working Days Have Been Lost Due to Labour Disputes? FE Soundbite 695
Welcome to Soundbite Edition 695! 20th May 2023. This week the girls are taking over! This is the weekly e-newsletter and e-journal brought to you…
Chancellor suggests the ‘default’ location for workers should be in the office
Jeremy Hunt has suggested that the ‘default’ location for workers should be in the office. The most recent official figures suggest the majority of people – 63.9%…
May Labour Market 2023- Sector Response
There were 556,000 working days lost because of labour disputes in March 2023, up from 332,000 in February 2023. May Labour Market Main Points: The…
April Labour Market 2023- Sector Response
Due to a combination of weak growth, more out of work with ill health and fewer older people in work. Economic inactivity due to long-term…