UK economy remains blighted

The disruptive effects of the pandemic are continuing to blight the economy.

Judged by movements in UK gross domestic product (GDP) the latest annual figures (July-September) suggest output fell by 8.6% compared with the same quarter a year ago.

However, growth in the third quarter was better than expected.

That mixed picture is also reflected in the Jobs Recovery Tracker published by the Recruitment and Employment Confederation (REC) which represents recruitment businesses.

It says there is a “clear divide in terms of the regions and industries that are hiring and those that are suffering because of the impact of the pandemic and Brexit”.

Overall, there were 10.5% more active job adverts in December than a year earlier (1.77 million). But while most areas of the UK had more job postings, especially Wales and North West England, London’s jobs market saw a decline.

Roles in health, social care and construction are in higher demand, but the hospitality and leisure industries continue to struggle.

However, REC cautions that the increase in recruitment marketing is due to a number of factors. These include pent-up demand from employers and an increase in the amount of time that job adverts are being left open for.

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/quarterlynationalaccounts/julytoseptember2020

https://www.rec.uk.com/our-view/research/recruitment-insights/jobs-recovery-tracker