In our September Job Market Update, we’ll provide an in-depth overview of the latest trends in the UK job market, including a snapshot of employment and unemployment rates. We’ll also delve into candidates’ preferred job sectors, revealing where the highest demand lies. We’ll highlight the most-used job search keywords to help you understand what potential employees are looking for. Additionally, we’ll explore sector-specific recruitment competitiveness, offering insights into which industries most need talent. For a broader perspective on how upcoming changes might impact businesses, don’t miss our blog, A Trip To Downing Street And Labour’s Plan To Make Work Pay, where we break down the 10 key reforms in Labour’s New Deal for Working People affecting businesses of all sizes.

Highlights And Key Takeaways:

1. The latest data indicates modest signs of recovery in the UK labour market, with unemployment falling to 4.1%.
2. Candidates are showing most interest in Admin & Secretarial, IT & Telecoms, and Retail roles.
3. Most searched keywords include Finance, Warehouse, and Remote.
4. A candidate shortfall exists in the Retail, Social Care, and Education sectors, requiring a targeted recruitment strategy.

Quick Links:

• Overview Of The Job Market
• Candidate Preferred Job Sectors
• Most-Used Job Search Keywords
• Sector-Specific Recruitment Competitiveness

Overview Of The Job Market

The latest ONS report, Labour market overview, UK: September 2024, indicates modest signs of recovery in the UK labour market, with unemployment falling to 4.1% and the employment rate rising to 74.8% between May and July 2024. While easing labour conditions and improved consumer and business confidence are positive indicators, the upcoming October budget introduces a level of uncertainty for businesses. Despite this, youth unemployment remains a pressing issue, with over 500,000 young people still out of work and the unemployment rate for 16 to 24-year-olds climbing to 13.3%.

Wage growth has also slowed, with regular earnings increasing by 5.1% and total earnings by 4%, which may impact businesses’ ability to attract new talent. The vacancy decline for the 26th consecutive period reflects a cooling job market. In light of these trends, businesses and hiring teams may want to focus on employee retention, upskilling, and offering competitive packages to remain appealing to top talent as the labour market stabilises.

Candidate Preferred Job Sectors

According to recent data from Reed, there has been a notable increase in job postings, with the Retail and Social Care sectors leading the way. This reflects typical seasonal hiring patterns in Retail as businesses prepare for increased consumer demand towards the end of the year. In Social Care, the rise in job opportunities is driven not only by seasonal factors but also by an ageing population, post-pandemic health challenges, and high staff turnover, making constant recruitment essential to meet the growing demand.

The most sought-after job sectors remain consistent in terms of candidate preferences. Admin and Secretarial roles lead the way, accounting for 13% of all job searches, followed closely by IT and Telecoms (11.34%) and Retail (7.83%). These preferences highlight the continued demand for support roles, the growing importance of technology in the workforce, and the ever-present need for retail staff, particularly as seasonal hiring ramps up. Understanding these trends can help businesses and hiring teams effectively target their recruitment efforts.

Recruitment resources for these sectors:

• Retail Job Description Templates
• Social Care Job Description Templates
• Admin Job Description Templates
• IT Job Description Templates
• Telecom Job Description Templates

Most-Used Job Search Keywords

Understanding the most-searched job keywords provides valuable insight into what candidates are looking for in today’s job market. These keywords highlight the roles in demand and reflect broader trends, such as the growing preference for flexible working arrangements and the need for specific qualifications. For businesses and hiring teams, optimising job adverts with these keywords can improve visibility and attract top talent.

Currently, the most searched keywords include various roles and work styles. Popular searches like Finance, Warehouse, Remote, Administration, and Customer Service show the continuing demand for office-based and hands-on roles. Job titles like HR, Accountant, Administrator, Cleaner, and Receptionist are frequently searched, reflecting the ongoing need for essential business support. Additionally, searches for Part-Time, Urgent or Immediate Start, and Visa Sponsorship indicate that flexibility and quick hiring processes remain a priority for many candidates. Roles such as Warehouse Operative, Data Entry, Management Accountant, and Accounts Assistant are also in high demand, demonstrating the broad range of sectors candidates are exploring.

Sector-Specific Recruitment Competitiveness

The latest data reveals significant imbalances between the number of job opportunities and available candidates across various sectors, highlighting the need for targeted recruitment strategies. For instance, in Admin, Secretarial & PA, there are 14,543 candidates but only 1,558 job openings, leaving 12,985 individuals without opportunities. Similarly, the IT & Telecoms sector shows a gap of 9,403, with 12,683 candidates vying for just 3,280 roles.

In contrast, the Retail sector faces a shortage of candidates, posting 16,243 jobs for only 8,765 job seekers, creating a gap of 7,478. Social Care is facing the most significant shortfall, with 15,248 job openings but only 2,803 candidates available, leaving a deficit of 12,445. Education also sees a notable gap, with 9,898 jobs posted and just 3,798 candidates, resulting in a shortfall of 6,100. Other sectors, such as Engineering (3,124 jobs, 3,665 candidates) and Marketing & PR (663 jobs, 3,603 candidates), also show mismatches, indicating a need for focused recruitment efforts in sectors with candidate shortages.

You can find job descriptions for roles in these sectors and explore the Hiring People blog for recruitment advice, tips, and strategies.

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