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Mon April 29 2024

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Job hunters dry up amid economic uncertainty

6 Dec 22 Construction industry job vacancies have slowed this year but the number of applicants for new jobs has fallen even more sharply.

A report from the Association of Professional Staffing Companies (APSCo) says that construction industry vacancies in the UK shrank by 6% in the first 10 months of 2022.

The number of applicants per vacancy was down by 44% over the same period.

The data comes from Broadbean Technology, which is behind a network of recruitment sites.

The APSCo report suggests that the findings are indicative not just of an ongoing skills shortage across the sector, but also a reluctance to move jobs at a time of economic uncertainty.

Salaries are going up to lure new recruits, but at levels way below inflation.

According to the analysis, average pay across UK construction increased by 4% between January and October, and 1% between September and October.

APSCo chief executive Ann Swain said: “While the construction sector has been on a roller coaster ride in terms of jobs throughout 2022, it is the sustained fall in application numbers that presents the greatest challenge to recruiters across the sector. This latest data does show that the economic uncertainty since the beginning of September has hampered hiring, something we don’t expect to see a reverse in the immediate future. It’s crucial that the government enacts policies that will bring stability for workers, including announcing the long-awaited Employment Bill and revising policies to better recognise and support the unique needs of the highly skilled contractor labour market.”

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