Manage episode 301408519 series 2112440
UK Job vacancies hit a record high as the labour market bounced back, according to official figures.
The number of job vacancies in the UK hit 953,000 in the three months to July, the Office for National Statistics (ONS) reports.
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The unemployment rate fell to 4.7% in the three months to June, while the annual growth in average pay was 7.4%.
Firms like Amazon and Tesco are offering up to £1000 signing-on bonuses with the former giving staff a £50 per week bonus for 100% attendance.
Amazon recently advertised that new starters who start working before 18 September would receive a £1,000 ‘golden hello’ fee.
A shortage of HGV drivers is threatening to cause empty supermarket shelves by Christmas.
Nurses and care staff are again in short supply. The NHS has 168,000 job vacancies in the UK.
This contrasts sharply with last year’s deep recession when unemployment rising job vacancies under 400,000 and millions of people were on the government funding furlough scheme.
The economy is rebounding has yet to reach pre-pandemic levels. The government has printed billions to stave off economic collapse and unprecedented debt levels are near 100% of GDP. In June 2021 there were 1.6 million people unemployed and millions more claiming universal credit and disability benefits.
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