UK Faces Skills Crunch
Britain is rapidly facing a skills shortage, with employers struggling to find workers to meet growing demand, but unemployment levels remaining at a record low.
9th November 2017
The Recruitment and Employment Confederation reported that vacancy levels are the highest they’ve been in the past two years. The REC insists there simply aren’t enough people for the amount of roles available.
A survey taken on recruitment levels in the UK found 30 per cent of recruiters had reported a drop in the availability of potential candidates. A mere 10 per cent said they’d found suitable candidates.
Shortages have proved most acute in service sectors; IT, human resources professionals, lorry drivers and sales staff have been particularly hard to recruit.
In the wake of Brexit uncertainty, employers are concerned for their EU workers and what future immigration systems will look like. REC encourages clarity from government to avoid employers facing more staff shortages if these EU citizens leave the UK.
In an effort to attract the right candidate, many employers have been forced to advertise higher wages. A survey taken out by the Bank of England found that the cost of employing workers in the manufacturing and servicing sectors is rising rapidly.
Some relief appears to be on the way for businesses as the rise in the cost of materials and imported goods have eased back to its slowest since January. However, with household debt still on the rise, the economy could still see more change on the horizon.
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