UK employers report a buoyant labour market with the Net Employment Outlook rising to +21%, up two percentage-points since last quarter and down ten percentage-points on Q2 2022.
In the context of record low unemployment and a historically tight labour market, employers continue to struggle to attract skilled talent, and in demand workers can’t find employers that fit their pay and skills needs. ManpowerGroup is advising employers revisit their essential skills requirements and consider what can be learnt on the job.
The ManpowerGroup Employment Outlook Survey is based on responses from 2,020 UK employers and asks if they intend to hire additional workers, maintain current headcount, or reduce the size of their workforce in the coming quarter (April to June 2023). It is the most comprehensive, forward-looking employment survey of its kind and is used as a key economic indicator by both the Bank of England and UK Government.
“Our survey continues to show strong hiring intentions despite the economic climate, but hiring intentions are not translating into filled vacancies.” said Chris Gray, Director at ManpowerGroup UK.
“There is a mismatch between what workers want and what employers are offering. Employers across the country are still keen to take on new talent, and workers want to take on higher paying roles with greater development opportunities. However, they aren’t seeing these jobs advertised. Job descriptions are going unread because they aren’t offering the skills growth workers want. Employers need to be clear about the progression opportunities and the training they are providing.”
Approximately ten million people in the UK currently do not have a job, with 1.2m of those being unemployed and the remaining 8.9 million classed as economically inactive. “It’s time to bring these workers into the fold,” continues Gray.