New job ads fall to lowest level since pandemic

The number of new job postings has fallen to the lowest level since the pandemic as employers anticipate new laws on workers’ rights and tax-raising measures in the budget on October 30.
The number of active advertisements for roles declined by 10 per cent month-on-month to 1.5 million in September as businesses took a “wait-and-see” approach to recruitment, according to a report from the Recruitment and Employment Confederation.
The government has announced plans to overhaul employment regulations with new rights to claim sick pay, maternity pay and protection against unfair dismissal, while also signalling that it would raise taxes to plug a fiscal “black hole” in the nation’s finances of £22 billion.
Neil Carberry, chief executive of the Recruitment and Employment Confederation., said there were “nerves about the longer-term impact” of the measures and businesses were waiting for more details before making investment decisions.
He added: “A fall in new job ads is symptomatic of a wait-and-see approach some employers are taking as they wait for more from the government around their plans to fuel the economy.
“This is why most businesses are looking to the budget at the end of the month before they decide how to invest, to tell them what money they will have to invest in hiring. The chancellor must demonstrate an understanding of the challenging cost environment that businesses face after a period of high inflation and interest rates and the relief they now need.”
The industries with some of the most significant reductions in hiring were the retail, healthcare and logistics sectors. In retail, the biggest decreases in the number of job postings were for collector salesmen and women and credit agents, which declined by 20.7 per cent, and for retail cashiers and check-out operators, with roles available falling by 14.9 per cent.
The number of postings for counsellors dropped by 20.8 per cent in the healthcare sector, with roles for registered children’s nurses down by 21.2 per cent. The logistics industry registered a drop in demand for all roles, with total job postings falling by 11.9 per cent.