If we were to analyze the data for the month of October this year, the data showcases a total of 460K jobs vis-à-vis 674K jobs in October 2019. This definitely reflects a positive trend post the pandemic wave, as there is 68% recovery in the availability of jobs in the market.
It is interesting to notice that despite the aftermath of the pandemic, the job market is making every effort to make a comeback as economy is being revived across the globe. However, there is 32% more to recover in this journey.
It would be interesting to wait and watch how 2020 responds to the market trends as UK gets ready for the the 3rd phase of a lockdown and gets used to the ‘new-normal’
The Covid has rendered the UK into an economic decline no doubt, however not all regions have been slumped; The UK is experiencing the third phase of a lock down and it undoubtedly has impacted businesses across regions. However, it’s interesting to notice that some regions have made a paced recovery. The month of October looks quite encouraging as the whole of the UK showcases a recovery of 32% which is not a bad retrieval to begin with, given the strict restrictions in some regions.
Yorkshire and Humber records the highest growth rate of 7% with a job count of 35,127 out of the total 459,533 statistical data. Close on its heels, to record a speedy revival is London, North West,East Midlands and West Midlands with a growth rate of 4% in comparison to last month.
Surprisingly, Scotland and North East regions have shown no change at all. Northern Ireland struggles as it has the least rate of growth with 5% in the negative
Of all the 12 regions in the UK, London is showing of signs of extremely slow recovery signs as it shows a growth rate of 55%. It shows a marginal recovery of 2% in comparison to last month.
This region being the Financial hub of UK is showing snail-pace recovery and is a cause of concern to businesses in the region.
Of all the 12 regions in the UK, it would be thought-provoking to notice that The North Eastern region has shown 84% growth rate as against 91% last month. The second region to be highlighted is the East Midlands which records a 83% growth rate as against 85% last month.
The third phase of lock-down and strict restrictions in some regions could be the reason behind these numbers
The pandemic has given businesses nightmares but it’s not woebegone completely. Our data is illustrative of this, surprisingly for most businesses; for instance Pourtsmouth reflects a 14% growth and tops the chart in terms of showing recovery from the aftermath of the lockdown.This city has received a total of 2,359 jobs this month whcih is the least number of jobs from the list.
York has shown the least growth rate of 6% in the negative. Over the last three months, it has shown a growth rate of 59% which is quite average a growth rate
Out of the 319,417 jobs considered to identify the top categories, the healthcare sector has taken the biggest chunk of the jobs, which is quite self-explanatory with the pandemic sending waves of paranoia and trauma globally. A total of 67,105 jobs have been associated with this sector alone. This sector records the highest growth of 15% leaving the other sectors behind. The second sector topping the chart is the management category, which records a growth of 10.7%. The reasons are quite tangible as the post pandemic has propelled many a businesses to rethink, re-strategize and realign their business goals, looking for more manpower in the C – suite of executives.
On the other hand, Cleaning and Facilities sector showcases the least growth with as low as 21% in the negative. With the covid-19 paranoia making its rounds, most organizations have been closed due to the third phase of lock-down and have incorporated work-from -home or have reduced manpower
This pandemic has given the Healthcare industry, a huge boost and it takes the biggest chunk as about 55,238 jobs are associated with this industry. Across the world, there has been a dearth of Healthcare professionals to deal with the epidemic. This industry mirrors a market share of 26.3% of the market share and 5.42% growth rate. The growth rate has shown a drastic decrease as the situation post the pandemic is trying to deal with situation and get back to a new kind of normalcy. The second to notice in the industrial category is the Retail and Consumer Goods with a total of 23, 688 jobs listed in this industry.This industry has shown a growth rate of only 6% and constitutes to a market share of 11.3%.
An interesting fact we would like to highlight here is that the Business, Management and Consulting industry has shown the highest growth of 24.71% with a market share of 4.6%. The reason it charts the highest on the growth percentage is explainable as October is a month when the new term begins and the industry would have clocked more hirings during this month. The least on the growth list is the Hospitality industry with a 22.35% in the negative and constitutes to 6.08% of the market share, with a total of 9,641 number of jobs.