Hiring rise unlikely to offset rising unemployment
Emma Greedy, October 30, 2020
Hiring has reportedly returned to pre-pandemic levels, but it is not set to improve at a rate that will offset the nation’s rising unemployment.
As the end of furlough scheme nears, the Office of National Statistics (ONS) has reported that more than 1.5 million people have already lost their jobs. At the same time, new data from LinkedIn has suggested that hiring has hit a ceiling.
Hiring in the UK is now at 8.5%, the same as in February this year, according to LinkedIn’s data yet there is more competition than before as applications per job are up 64% compared to this time last year.
The research has also shown that there are pockets of hiring growth as certain roles – such as those in project management, customer services and software engineering – have risen in demand.
Workers in the recreation, travel, media and entertainment sectors remain the least confident about their job security.
Josh Graff, UK country manager at LinkedIn, said that the end of the furlough scheme is cause for anxiety across the country.
He said: “Focusing on transferable skills can help open up a variety of roles that people may not have previously considered.
“Skills can be applied to different jobs or industries, creating new employment opportunities. Likewise, investing time in developing new skills, being proactive in your job search and engaging your professional network is key to finding a new job quickly.”
The Workforce Confidence Index also found that people working in the sectors hit hardest by the global pandemic, including recreation, travel, media and entertainment, are the least confident about their job prospects in the next 12 months.
Janine Chamberlin, senior director at LinkedIn told HR magazine: “Given the turbulence in the current jobs market due to COVID-19, it’s important that hiring managers remain open-minded and flexible about the type of candidates they will consider for roles.
“Although it can be easy to overlook applicants who may not have direct experience in the specific sector or role that they’ve applied for, it’s important to consider people’s transferable skills and experiences which are equally as important.
“Assessing candidates on their skills can help companies access more diverse talent pools and benefit from fresh ideas and perspective.”