Sharp improvement in vacancies and sharp increase in the number of employees suggests unemployment is close to peak

The CIPD responds to the latest labour market statistics from the ONS

Gerwyn Davies, Senior Labour Market Adviser for the CIPD, the professional body for HR and people development comments on today’s ONS figures:   
 
“The latest official figures show the biggest monthly increase in the number of employees since the onset of the pandemic; which is consistent with survey indicators such as the CIPD’s. Indeed, the data suggests that a new threat is emerging in the shape of recruitment difficulties, due in part to the fall in the supply of EU workers. At the same time, the number of young employees remains near a post-pandemic low, which is a worry with many of this year’s crop of school and university leavers seeking to join the labour market this summer. Helping them find their first jobs should therefore be a matter of urgency for policymakers and employers.” 
 
Davies continues: “More generous apprenticeship incentives that are targeted specifically at 18-24 year-olds and putting extra public resources into people management skills would help with both the recruitment and retention of younger workers. These efforts should be complemented by employers, who should be reviewing their recruitment, training and reward practices as well as the quality of jobs they offer. Such actions will help offset labour shortages and improve productivity.” 

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