One Size Does Not Fit All: Elevating Educational Pathways Beyond Degrees
Hadi Moussa, EMEA Managing Director at Coursera, explores why the fast-evolving labour market demands a shift in the nation’s approach to education to prepare learners…
labour market
Labour Market Information (LMI) is information about what is happening in a labour market. LMI tends to focus on the industries that are growing and declining, the types and levels of jobs are increasing and decreasing and what supply of labour is available – numbers, skill and qualification levels.
Definition: A labour market is the place where workers and employees interact with each other. In this market, employers compete to hire the best, and the workers compete for the best satisfying job.
Every month, ONS releases information and statistics about the labour market.
Recruitment intentions are above pre-pandemic levels and appear to be on an upward trajectory. Almost three-quarters (74%) of employers say they are planning to take on new staff in the next three months. But as expected, recruitment difficulties remain, with 45% saying they have hard-to-fill vacancies.
The most popular response to hiring difficulties has been to raise pay (44%). But employers may be reaching a limit on how much further they can go on pay: only 27% anticipate raising pay in future to address hard-to-fill vacancies. Encouragingly, employers are also looking to other means to tackle staffing challenges: 39% have focused on upskilling more existing staff and 38% have advertised more jobs as flexible. These are vital factors in improving job quality and will be increasingly important for employers as they wrestle with recruitment as well as retention.
Stronger August for hiring hints at labour market resilience and possible recovery – REC
The number of new job adverts this August has remained at a robust level each week, suggesting greater confidence among hiring companies than last summer,…
August Labour Market 2023- Sector Response
“Pay growth accelerates to end 18 month wage squeeze – but 15 year stagnation has left average earnings £230 a week lower than their pre-financial…
July Labour Market 2023- Sector Response
“If we want to get inflation down in the long run, we need urgent action to address labour shortages and skills needs” The UK employment…
Top Three Articles in June: Who Will Win?
Each month, we find our Top Three most popular articles on FE News. FE News Unwrapped proved popular, so we decided to continue this and keep…
What lies beyond Employability Day?
As organisations across the country celebrate Employability Day – Friday 30 June – Elizabeth Taylor, ERSA Chief Executive, discusses the employment support landscape and what…
The issues swirling round delivery of the PM’s post-16 maths plan
In April the Prime Minister restated his New Year’s pledge to make maths education up to 18 compulsory, this time announcing the establishment of an…
Active job postings above two million despite economic uncertainty – REC
There are more than two million active job ads in the UK despite caution among employers, according to the Recruitment & Employment Confederation (REC) and…
June Labour Market 2023- Sector Response
Employment back to pre-pandemic levels but “clear signs that weak labour supply is holding back growth” The UK employment rate was estimated at 76.0% in February…
Urgent action needed to prevent skills shortages and potential impact on the economy and employment
Essential employment skills required by employers now are set to become even more important in the future, according to a new report. The report says…