Increased economic uncertainty surrounding the upcoming general election on the 12th December 2019 and Brexit have slowed businesses hiring plans which have led to a decrease in the number of vacancies advertised.
This is according to the job board, CV-Library and the joint UK Report on Jobs by KPMG and the Recruitment and Employment Confederation (REC). CV-Library research has said that the number of jobs advertised in November decreased by 13 per cent month-on-month and 1.7 per cent year-on-year.
The joint KPMG and REC report states that November had the slowest demand for staff for over the past decade.
CV-Library pointed out that the largest decrease in the number of jobs advertised in November was in Cardiff (21 per cent), as well as Glasgow dropping by 18 per cent.
However, applications to vacancies also dropped, as month-on-month applications dropped by 12 per cent, with Scotland and Wales job hunters being the most reluctant to apply for new jobs.
Lee Biggins, CEO and founder of CV-Library, said:
Its no surprise that the industries with the largest drop in job advertisements are those that will be directly impacted by Brexit. In the face of such extraordinary political uncertainty, companies have no choice but to hold back on hiring new talent and this isn’t unusual at this time of year.
With the UK set to make a monumental decision in less than a fortnight and the fate of Brexit hanging in the balance, many organisations will be waiting for the dust to settle before moving forward with their hiring campaigns. But as we approach a typically busier period for recruitment, we hope to gain some clarity on how we will navigate through these tumultuous times.
It’s important to remember that while these numbers are certainly exacerbated by the current political climate, this time of year is usually quieter for recruitment across the board. Because of this, it’s a good time to take stock of where your company is currently at and start thinking about your future hiring needs. In doing so, you’ll ensure that you’re ready to when the dust has settled after the general election and when many candidates will be looking for a change after the Christmas period.