UK job vacancies hit record high in Q3 amid labor market recovery

Source: Xinhua| 2021-10-13 00:08:31|Editor: huaxia

LONDON, Oct. 12 (Xinhua) -- The estimated number of job vacancies in Britain hit the highest level in the third quarter (Q3) of this year since records began in 2001, the British Office for National Statistics (ONS) said Tuesday.

Between July to September, the number of job vacancies reached a record high of over 1.1 million, an increase of 318,000 from its pre-pandemic level between January and March 2020, according to the ONS.

"July to September 2021 saw continued growth across the majority of sectors with 12 of the 18 categories displaying a record number of vacancies; the largest quarterly increase was seen in wholesale and retail trade," added the ONS.

Meanwhile, British labour market has witnessed a continuing recovery from June to August, with unemployment rate standing at 4.5 percent, 0.5 percentage points higher than before the pandemic from December 2019 to February 2020, but 0.4 percentage points lower than the previous quarter, suggested the ONS.

In addition, the number of payroll employees showed another monthly rise, up 207,000 to a record 29.2 million in September 2021, returning to pre-pandemic level in February 2020, the data revealed.

"The jobs market has continued to recover from the effects of the coronavirus, with the number of employees on payroll in September now well exceeding pre-pandemic levels," said Darren Morgan, director of economic statistics at the ONS.

"Vacancies also reached a new one-month record in September, at nearly 1.2 million, with our latest estimates suggesting that all industries have at least as many jobs on offer now as before the onset of COVID-19," Morgan added.

James Smith, a developed markets economist at financial services firm ING, said:"Hiring demand is clearly strong, and the rebound in employment in the hardest-hit consumer services sectors continues apace."

Noting an uncertain backdrop in the jobs market, Smith said: "At a time when the cost of living is increasing sharply - and inflation is set to be at or above 4.5 percent next April - it's likely that real wages will be flat, or indeed negative for many workers over the winter."

Another 38,520 people in Britain have tested positive for COVID-19 and the country also recorded another 181 coronavirus-related deaths, according to official figures released Tuesday.

More than 85 percent of people aged 12 and over in Britain have had their first dose of vaccine and more than 78 percent have received both doses, the latest figures showed.

To bring life back to normal, countries such as Britain, China, Germany, Russia and the United States have been racing against time to roll out coronavirus vaccines. Enditem

KEY WORDS: UK,Job Vacancies