Vacancies And Jobs In The UK - May 2023

17th May 2023

The number of vacancies in February to April 2023 was 1,083,000, a decrease of 55,000 from November 2022 to January 2023.

Vacancy numbers fell on the quarter for the 10th consecutive period in February to April 2023, down by 4.9% since November 2022 to January 2023, with vacancies falling in 14 of the 18 industry sectors.

In February to April 2023, total vacancies were down by 214,000 from the level of a year ago, although they remained 282,000 above their pre-coronavirus (COVID-19) January to March 2020 levels.

In January to March 2023, the number of unemployed people per vacancy was 1.2, up from 1.1 the previous quarter (October to December 2022) as the number of vacancies fell while unemployment rose.

In February to April 2023, the estimated number of vacancies fell by 55,000 on the quarter to 1,083,000, the 10th consecutive period to see a quarterly fall since May to July 2022.

In February to April 2023, the number of vacancies fell by 4.9% from the previous quarter, with decreases in 14 of the 18 industry sectors. The industries showing the largest falls were financial and insurance activities and mining and quarrying, at negative 15.7% and negative 11.1%, respectively.

February to April 2023 saw the number of vacancies fall on the quarter for the 10th consecutive period, decreasing by 55,000. The industry sectors displaying the largest falls in vacancy numbers were accommodation and food service activities and wholesale and retail trade; repair of motor vehicles and motorcycles, down on the quarter by 13,000 and 12,000, respectively. The industries which saw the largest growth on the quarter were administrative and support service activities and other service activities, growing by 6,000 and 3,000, respectively.

The fall in the number of vacancies reflects uncertainty across industries, as survey respondents continue to cite economic pressures as a factor in holding back on recruitment.

When comparing February to April 2023 with the same time last year, total vacancies decreased by 214,000 (16.5%). The largest falls were in accommodation and food service activities and information and communication, both of which were down by 37,000 and 30,000, respectively. However, the total number of vacancies remain 282,000 above January to March 2020 pre-coronavirus (COVID-19) levels, with human health and social work activities showing the largest increase, at 60,000.

In January to March 2023, the number of unemployed people per vacancy was at 1.2, up slightly from 1.1 in the previous quarter. While this ratio remains very low by historical standards, this quarterly increase suggests a slight easing of recent tightness in the labour market. This is following consecutive falls in vacancy numbers and increases in the number of unemployed people.

Read the full report HERE