LinkedIn and Microsoft publish data revealing UK faces toughest jobs market in a generation

New data from LinkedIn finds:

• Jobs are 3x more competitive due to the pandemic
• Workers in sectors hardest hit are looking to other industries to find work
• Share of job applications in Recreation & Travel Media & Communications and Real Estate from people working in these industries are down 53%, 43% and 35% respectively compared to last year, due to fewer open roles in these sectors and comparatively more available in other industries

To help people find new jobs and acquire new skills, Microsoft and LinkedIn are giving 25 million people the opportunity to reskill by offering free access to learning resources and interview tools. All learning resources are available at opportunity.linkedin.com.

Discussing the initiative, Rishi Sunak, Chancellor of the Exchequer, said:

“Re-skilling and re-training are key parts of our Covid recovery programme and digital skills will form a crucial part of that. That is why I welcome this project announced today by Microsoft. It’s a fantastic initiative and demonstrates how we can all play a part in contributing to our recovery and driving growth for the future.”

Josh Graff, UK Country Manager, LinkedIn also said:

“News today of the thousands of jobs being cut across many sectors will be worrying for many, particularly those who find themselves unemployed. The UK is bracing for the toughest jobs market in a generation. New data from LinkedIn finds that the jobs market is currently three times more competitive today compared to this time last year due to Covid-19. With tremendous pressure on people to find new roles, Microsoft and LinkedIn are offering people the opportunity to learn new skills for free to help them land their next job. Developing new skills, particularly digital skills, can help people stand out from the crowd and also build their confidence. People can access free learning resources and interview preparation tools at opportunity.linkedin.com.”

Hugh Milward, Senior Director of Corporate, External and Legal Affairs at Microsoft, said:

“The shock of unemployment as a result of Covid-19 is now a real fear for many in the UK. But at the same time, the economy has embraced digital during this crisis like no time before it.  Reskilling is essential if people are to take advantage of these changes and thrive. Whilst there may be difficult times ahead, we also estimate there will be close to 3 million new technology jobs in the UK by 2025. Microsoft and LinkedIn are committed to equipping UK job seekers and workers with the resources and tools needed to access the most in-demand digital jobs that provide stability, long-term prospects and to ensure an inclusive and accelerated economic recovery.”